All Banks

Dear Sirs,

Export Finance Scheme – Re-fixation of rates for March, 2004

Please refer to BPD Circular No.03 dated the 31st January, 2004 along with other instructions issued from time to time on the captioned subject.

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

3. Other instructions on the subject shall remain unchanged.

Please acknowledge receipt.