The
Presidents/ CEOs,
All
Banks,
Dear
Sirs,
Export
Finance Scheme – Refixation of rates for the month of August
2003
Please
refer to BPD Circular No. 21 dated 30th June,
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 August
2003 shall be 1.5% 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.