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Interest Equalization Scheme News

08 Mar 2022

RBI issues guidelines for interest equalisation scheme for export credit

As per the modifications made by the government to the scheme, the telecom instrument sector having six HS (Harmonised System) lines shall be out of the purview of the plan, except for MSME manufacturer exporters. The RBI notification further said the extended scheme will not be available to those beneficiaries, who are availing the benefit under any production linked incentive (PLI) scheme of the government. With effect from April 1, 2022, banks shall reduce the interest rate charged to the eligible exporters.

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