All
Banks
Dear
Sirs,
EXPORT
FINANCE SCHEME- REFIXATION OF RATES FOR MARCH,
2002
Please refer
to BSD Circular No.04 dated 29th January, 2002 alongwith other
instructions issued on the captioned subject from time to
time.
2.
It has been decided that effective from 1st March, 2002 the
rate at which State Bank would allow refinance to banks on
their disbursement to exporters under the captioned Scheme
shall be 6% 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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