Please
refer to BPD Circular No. 1 dated the 15th March, 2002 on
the captioned subject.
2.
It has been decided that with effect from 16th September,
2002 the maximum profit to be earned by a financial institution
on financial assistance to be extended under Part-A (Local
Sales) of the Scheme for financing Locally Manufactured Machinery
(LMM-Scheme) shall not exceed 10% p.a. However, where banks
would avail refinance from the State Bank against valid Finance
Limit, the refinance so obtained shall be remunerated at 8%
p.a.
3.
Other instructions on the subject shall remain unchanged.
Please acknowledge receipt.
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