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English Release 18-June 2013
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- Prime Minister's Office
- PM assures all assistance for rescue and relief operations in flood affected Uttarakhand
- Min of Agriculture
- Shri Pawar Calls for Strengthening International Research Institutions, Sharing Knowledge
- Min of Defence
- First C 17 Touches Down in India
- Operation ‘Rahat’ Launched by the IAF
- Ministry of Finance
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India Signs Loan Agreement with World Bank for
US$ 255 Million for National AIDS Control Project-IV
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Government Approves 16 Proposals of Foreign Direct Investment Amounting to About Rs.1646.875 Crore
- Finance Minister Launches Maiden infrastructure Debt fund (IDF) Scheme of IIFCL Mutual Fund for Catalysing Investment in Infrastructure Sector; FM for Mobilsation of Resources From Insurance and Pension Sector for IDFs
- Min of Home Affairs
- Encounter between CPI (Maoist) and Security Forces in Jharkhand
- Rescue & Relief Operations in Flood Affected Areas of Uttarakhand and Himachal Pradesh
- Min of Housing and Urban Poverty Alleviation
- Girija Vyas takes charge as New Minister for Housing & Urban Poverty Alleviation
- Min of Information & Broadcasting
- I&B Minister and Chinese Information Minister inaugurate Chinese Film Festival
- Min of Labour & Employment
- Shish Ram Ola Takes over as New Union Minister Labour and Employment Minister
- Min of Petroleum & Natural Gas
- International crude oil price of Indian Basket increases 104.15/US$ bbl on 17.6.2013
- Ministry of Railways
- Indian Railways Carry 171.91 Million Tonnes of Freight During April – May 2013
- Min of Road Transport & Highways
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New Materials and Technology to be used for Road Construction
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Shri Oscar Farnandes is New Minister for Road Transport and Highways
- Min of Social Justice & Empowerment
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Shri Manikrao H. Gavit Takes Charge as Minister of State for Social Justice & Empowerment
- Ministry of Tourism
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Turkish Ambassador Calls on Tourism Minister
- Ministry of Water Resources
- Harish Rawat Expresses Satisfaction Over the Rescue Operation and Relief Works in the Flood Affected Areas
- Planning Commission
- Gujarat Plan for 2013-14 Finalized
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Ministry of Finance07-December, 2012 18:22 IST
Relief to Exporters
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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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