refer to IH & SMEFD Circular No. 05 dated January
31, 2013 on the captioned subject.
It has been decided that rate of refinance under the Export
Finance Scheme effective from April 01, 2013 and onward
till further instructions shall be 8.40% p.a. The commercial
banks shall ensure that where financing facilities are
extended by them to the exporters for availing refinance
facilities under the EFS, their maximum margin/spread
does not exceed 1% p.a. The revised markup rate is not
applicable on currently outstanding loans availed under
The reimbursement of mark-up rate benefit to exporters,
on excess performance under Part-II of the Scheme, as
specified in SMEFD Circular No.15 dated October 31, 2009,
will be adjusted accordingly keeping in view the revised
Other instructions on the subject shall remain unchanged.
Please acknowledge receipt.