Please
refer to BPD Circular No. 03 dated 31st January,
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 March, 2003 shall be 3.5% 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.
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