The
Presidents/CEOs,
All Banks.
Dear
Sirs/Madam,
EXPORT
FINANCE SCHEME-
REFIXATION OF RATES FOR MARCH, 2005
Please
refer to BPD Circular No.03 dated 31st January, 2005 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 March 2005 shall
be 4.5% 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.