All
Banks
Dear Sirs,
Export
Finance Scheme – Refixation of rates for November,
2003
Please refer to BPD Circular No.32 dated 30th September,
2003 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.1.5% p.a. shall continue to be applicable for the month
of November, 2003. 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.