All
Banks
Dear
Sirs,
EXPORT
FINANCE SCHEME
Please refer to BSD Circular No.48 dated 27th December,
2001 alongwith other instructions issued on the captioned
subject from time to time.
2.
It has been decided that effective from 1st February,
2002 the rate at which State Bank would allow refinance to
banks on their disbursement to exporters under the captioned
scheme shall be 7% 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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