All
Banks
Dear
Sirs,
Export
Finance Scheme – Refixation of rates for October,
2003
Please
refer to BPD Circular No.29 dated 29th August, 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 notified vide our Circular referred to above
i.e.1.5% p.a. shall continue to be applicable for the month
of October, 2003. 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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