All
Banks
Dear
Sirs,
Export
Finance Scheme – Refixation of Rates for July,
2004
Please refer to BPD Circular No.16 dated
31st May, 2004 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.2% p.a. shall continue to be applicable for
the month of July, 2004. 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.