| INTEREST RATE ON RUPEE EXPORT CREDIT |
Categories of export credit |
Interest Rates(Per cent per annum) |
| Effective from May 1, 2006 to October 31, 2006 | |
| 1. Pre-Shipment Credit | |
| (a) Upto 180 days | Not exceeding BPLR minus 2.5 percentage points |
| (b)Against incentives receivable from Government covered by ECGC guarantee upto 90 days | Not exceeding BPLR minus 2.5 percentage points |
| 2. Post-Shipment Credit | |
| (a)On demand
bills for transit period (as specified by FEDAI) |
Not exceeding BPLR minus 2.5 percentage points |
| (b)Usance
Bills (for total period comprising usance period of export bills, transit period as
specified by FEDAI and grace period wherever applicable) (i) Upto 90 days (ii)Upto 365 days for exporters under the Gold Card Scheme |
Not exceeding BPLR minus 2.5 percentage points. |
| (c) Against incentives receivable from Government( covered by ECGC guarantee) upto 90 days | Not exceeding BPLR minus 2.5 percentage points |
| (d) Against undrawn balances (upto 90 days) | Not exceeding BPLR minus 2.5 percentage points |
| (e) Against
retention money (for supplies portion only) payable within one year from the date of shipment (Upto 90 days) |
Not exceeding BPLR minus 2.5 percentage points |
BPLR: Benchmark Prime Lending Rate
Note:
1. Since these are ceiling rates, banks would be free to charge any rate below the ceiling
rates.
2. Interest rates for the above-mentioned categories beyond the tenors as prescribed above are free.
