Please
refer to BPD Circular No.09 dated 29th March, 2003
alongwith other instructions issued from time to time on the
captioned subject.
2. It has been decided
that rate of refinance under the Export Finance Scheme applicable
for the month of May, 2003 shall be 2% p.a. The commercial
banks shall, however, ensure that where financing facilities
are extended by them to the exporters for availing refinance
facilities under the Export Finance Scheme, their maximum
margin / spread does not exceed 1.5% p.a.
3. The financing facilities
under Part-B (Export Sales) of the Scheme for financing Locally
Manufactured Machinery shall also attract similar mark up
rate structure.
4. Other instructions
on the subject shall remain unchanged.
Please acknowledge receipt.
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