The Presidents/ CEOs,
All Banks.
Dear
Sirs /Madam,
EXPORT FINANCE SCHEME-
REFIXATION OF RATES FOR DECEMBER, 2004
Please
refer to BPD Circular No.33 dated the 30th October, 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 applicable for the month of December
2004 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.