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English Release 2-September 2014
Date Month Year
  • Vice President's Secretariat
  • Vice President Inaugurates 89th Foundation Course at Lal Bahadur Shastri National Academy of Administration in Mussoorie
  • Prime Minister's Office
  • Text of Prime Minister Shri Narendra Modi’s remarks at the Indian Community Reception in Tokyo
  • Text of Prime Minister Shri Narendra Modi’s remarks after inaugurating the TCS Japan Technology and Culture Academy
  • Text of Prime Minister Shri Narendra Modi’s keynote address at welcome reception hosted by Japan-India Association and Japan-India Parliamentary Friendship League
  • PM inaugurates Vivekananda Cultural Centre at Indian Embassy in Tokyo
  • PM’s remarks at the Indian Community Reception in Tokyo
  • PM's keynote address at welcome reception hosted by Japan-India Association and Japan-India Parliamentary Friendship League
  • Text of Prime Minister Shri Narendra Modi’s keynote address at event organized by Nikkei Inc. and Japan External Trade Organization (JETRO)
  • PM's keynote address at event organized by Nikkei Inc. and Japan External Trade Organization (JETRO)
  • Text of Prime Minister Shri Narendra Modi’s special lecture at the University of the Sacred Heart, Tokyo
  • PM’s remarks after inaugurating the TCS Japan Technology and Culture Academy
  • PM's special lecture at the University of the Sacred Heart, Tokyo
  • Min of Agriculture
  • Government puts Agriculture Sector on Fast Track
  • Min of Defence
  • Fast Patrol Vessel ICGS Abhiraj Commissioned at Tuticorin
  • Min of Environment and Forests
  • Initiatives of the Ministry of Environment, Forests & Climate Change
  • Ministry of Finance
  • A High Level Committee Constituted for Considering the Proposals for Assessment of Income arising or accruing before 1st April, 2012 on Account of Retrospective Amendments to the Provisions Related to Indirect Transfer
  • Min of Health and Family Welfare
  • Revised strategy for Kala Azar eradication launched
  • Min of Home Affairs
  • MHA Asks Manipur Govt to Take Preventive Steps in view of UNC Blockade
  • Union Home Minister asks Kerala CM to take Strict action against Political Killings
  • Min of Information & Broadcasting
  • I&B Ministry initiatives to enhance Outreach and information dissemination through multiple platforms
  • Min of Petroleum & Natural Gas
  • Petroleum Minister emphasizes on adopting energy efficient techniques for better development of the nation
  • Global crude oil price of Indian Basket was US$ 101.29 per bbl on 01.09.2014
  • Min of Power
  • Landmark Initiatives for Energy Efficiency Launched
  • Min of Rural Development
  • Sweeping changes made in MGNREGA by Nitin Gadkari
  • Min of Science & Technology
  • Atomic Energy Regulatory Board (AERB) Releases the Annual Report for the Year 2013-14
  • MoU Signed between National Cancer Institute, AIIMS, Jhajjar Campus and DBT, GOI
  • Dr Jitendra Singh Announces DBT Collaboration in Establishing A “National Cancer Institute” at Jhajjar, Haryana.
  • Min of Tribal Affairs
  • “Single Window System” for Obtaining Market Information on Minor Forest Produces Through Toll Free Number 1800 180 1551

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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