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English Release 31-January 2015
Date Month Year
  • President's Secretariat
  • President of India Congratulates DRDO on the Successful Test-Firing of Agni-V
  • President’s Message on the Occasion of 38th Anniversary of Indian Coast Guard
  • Prime Minister's Office
  • PM reviews PaHaL Scheme for Direct Benefit Transfer for LPG Subsidy
  • PM salutes our scientists, on the successful test-firing of Agni V missile
  • PM gives best wishes to all athletes participating in the 35th National Games
  • Min of Comm. & Information Technology
  • Commemorative Postage Stamp on Swachh Bharat Released
  • Min of Culture
  • Dr Mahesh Sharma lays foundation stone of campus buildings of National Museum Institute and Indian Culinary Institute
  • Min of Information & Broadcasting
  • Siri Fort Auditorium amongst the top 50 auditoriums for cinema viewing in India- Col Rajyavardhan Rathore
  • Min of Personnel, Public Grievances & Pensions
  • ACC Appointments
  • 18th National Conference on e-Governance concludes in Gandhinagar
  • ACC Appointments
  • Ministry of Tourism
  • Dr Mahesh Sharma lays foundation stone of campus buildings of National Museum Institute and Indian Culinary Institute
  • Min of Tribal Affairs
  • Tribal Afairs Ministers Felicitates Tribal Guests and the Tableaux Artistes & Supporting Staff, who had Participated in this Year’s Republic Day Parade
  • Min of Urban Development
  • Speech made by the Hon’ble Union Minister for Urban Development at the Inauguration of 35th National Games in Kerala on 31st January, 2015
  • States show the way forward on building smart cities

Previous Date

 
Ministry of Finance07-December, 2012 18:22 IST
Relief to Exporters

Following the deregulation of interest rates on export credit the rate of interest to be charged to exporters is now left to the commercial judgment of the banks. Guidelines on grant of timely, adequate and hassle free flow of export credit have been issued to all Scheduled Commercial Banks vide Reserve Bank of India Master circular on Rupee/Foreign Currency Export Credit and Customer Service to Exporters dated 02.07.2012.

However, to provide relief to labour intensive sectors, the Government of India has extended interest subvention of 2% on pre and post shipment rupee export credit in the following sectors w.e.f. April 1, 2012 to March 31, 2013 on the same terms and conditions.

Handicraft, Carpets, Handlooms, Small and Medium Enterprises (SMES), Readymade Garments, Processed Agriculture Products, Sport Goods and Toys.

Further, in view of the difficulties faced by exporters on account of the weakening of external demand, RBI has taken following measure;

(i) Period of realization and repatriation to India of the amount representing the full export value of goods or software was enhanced from 6 months to 12 months.

(ii) AD Category-I banks have been permitted to allow exporters to receive advance payment for export of goods which would take more than one year for manufacture shipping.

(iii) Powers have been delegated to A.D. Category-I banks to open and maintain Diamond Dollar Accounts by Diamond exporters with them with relaxed norms and so on.

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.

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DSM/RS/bs
(Release ID :90210)

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