The
Presidents/ CEOs,
All Banks.
Dear
Sirs/Madam,
EXPORT
FINANCE SCHEME-
REFIXATION OF RATES FOR JANUARY, 2006
Please
refer to SMED Circular No. 6 dated November 30, 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 notified vide our Circular referred
to above i.e. 7.5% p.a., shall continue to be applicable
for the month of January 2006. 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.