The Presidents/ CEOs,

All Banks.

Dear Sirs /Madam,

Non-Performance by the Exporters under Export Finance Scheme:

Procedures for Refund of Fine-Modification

Please refer to the captioned Procedure circulated vide SME & MFD Circular No.2 dated 22nd March, 2007 read with SME & MFD Circular No. 3 dated July 31,2007.

2. In order to further streamline the mechanism of processing of refund cases, the revised procedure for refund of Fine to be followed with immediate effect is enclosed.
3. Banks are advised to immediately circulate the same amongst their branches dealing with cases under the Export Finance Scheme and provide a copy to their clients.
4. Other instructions on the subject shall remain unchanged.

Please acknowledge receipt.

Encls: (As Above)