Press Esc to close
Wednesday 06 May 2015
News updated at 9:46 AM IST
Weather
Max: 31.5°C
Min : 22.8°C
In Bengaluru
Sunny day

Rate of interest subvention on export credit raised

Mumbai, August 26, 2013, DHNS:

The Reserve Bank of India (RBI) has decided to increase the rate of interest subvention on pre and post shipment rupee export credit for certain employment oriented export sectors to 3 per cent from August 1 compared to 2 per cent earlier, which is aimed to attract dollars and boost exports.

In a notification issued on Monday, RBI has asked banks to reduce the interest rate chargeable to the exporters as per base rate system in the existing sectors eligible for export credit subvention by the amount of subvention available subject to a floor rate of 7 per cent.

“Banks may ensure to pass on the benefit of 3 per cent interest subvention completely to the eligible exporters,” said RBI.

Meanwhile, the rupee closed at 64.31 per dollar this day against its previous close of 63.20 on Friday last.


Go to Top

Photo Gallery
Congress women workers during a protest against the BJP-PDP government for their...

Congress women workers during a protest against the BJP-PDP government for their...

Union Ministers Ravi Shankar Prasad, Uma Bharti and J P Nadda after the Cabinet...

Union Ministers Ravi Shankar Prasad, Uma Bharti and J P Nadda after the Cabinet...

Congress Vice President Rahul Gandhi talks to MoS Sadhvi Niranjan Jyoti at Parliament...

Congress Vice President Rahul Gandhi talks to MoS Sadhvi Niranjan Jyoti at Parliament...

Siddharth Roy Kapur along with his wife and Bollywood actor Vidya Balan arrive in....

Siddharth Roy Kapur along with his wife and Bollywood actor Vidya Balan arrive in....

Rajasthan Royals players Steven Smith, Stuart Binny, Ajinkya Rahane along...

Rajasthan Royals players Steven Smith, Stuart Binny, Ajinkya Rahane along...

KKR Mentor Jacques Kallis, CEO Venky Mysore, Brad Hogg and Robin Uthappa during...

KKR Mentor Jacques Kallis, CEO Venky Mysore, Brad Hogg and Robin Uthappa during...

Power Minister Piyush Goyal with Congress MP Raj Babbar and MP Javed Akhtar at...

Power Minister Piyush Goyal with Congress MP Raj Babbar and MP Javed Akhtar at...

Congress members Digvijay Singh at Parliament house in...

Congress members Digvijay Singh at Parliament house in...

Prime Minister Narendra Modi with William Joseph Burns, former US Deputy...

Prime Minister Narendra Modi with William Joseph Burns, former US Deputy...

Mumbai Indians icon Sachin Tendulkar with captain Rohit Sharma before the...

Mumbai Indians icon Sachin Tendulkar with captain Rohit Sharma before the...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523