All Banks,
Dear
Sirs,
Export Finance Scheme – Refixation of Rates for October,
2004
Please
refer to BPD Circular No.28 dated August 31, 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 October 2004
shall be 3.0% 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.