ANNOUNCEMENT 01 Jan 2013
In January 2013, the Reserve Bank of India extended the incentives under the interest subvention scheme to certain engineering products for the period starting 1 January 2013.
NUMBER OF INTERVENTIONS
1
SOURCE
Circular BOD.Dir.(Exp)BC.No.70/04.02.001/2012-13
https://rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=7804
The Reserve Bank of India extended the list of products eligible for an interest rate subvention scheme on export credit. Specifically, it added 134 tariff lines (at the HS 4-digit level) of engineering goods as eligible for the scheme for the period 1 January 2013 to 31 March 2014.
The subvention scheme provides an additional 2% interest reduction on pre-shipment and post-shipment Rupee export credit for certain employment oriented export sectors (see related measure).