All Banks/DFIs

Dear Sirs,

Export Finance Scheme – Refixation of rates for Janaury,2004

Please refer to BPD Circular No. 41 dated 25th November, 2003 alongwith other instructions issued from time to time on the captioned subject.

2. It is notified that instructions regarding rate of refinance / finance under Export Finance Scheme and for facilities under Part-B (Export Sales) of LMM Scheme circulated vide our circular referred to above shall also be applicable for the month of January, 2004.

3.. Other instructions on the subject shall remain unchanged.