The Presidents / CEOs,
Dear Sirs /Madam,
of Financing Rates under the Export Finance Scheme (EFS)
Please refer to SMEFD Circular No. 17 dated December 31,
2010 on the captioned subject.
It has been decided that rate of refinance under the Export
Finance Scheme applicable from September 10, 2012 and onward
till further instructions shall be 8.50% p.a. The commercial
banks shall 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% p.a.
The financing facilities under Part-B (Export Sales) of
the Scheme for financing Locally Manufactured Machinery
shall also attract similar mark up rate structure.
The reimbursement of mark-up rate benefit to exporters,
on excess performance under Part-II of the Scheme, as specified
in SMEFD Circular No.15 dated October 31, 2009, will be
adjusted accordingly keeping in view the revised mark-up
Other instructions on the subject shall remain unchanged.