Circular No. ES/ 298/2018-19 November 30, 2018
To: Members of the Council
Sub.: RBI increased the Interest Equalisation rate for MSMEs exporters to 5%
Dear Member,
As you may be aware, the Hon’ble Prime Minister of India, Shri Narendra Modi had announced 12 key initiatives to facilitate the growth of Micro, Small & Medium Enterprises (MSME) Sector at the Outreach Programme for on 2nd November, 2018 in New Delhi.
In this regard, we are glad to inform you that the Government of India has increased the Interest Equalisation rate from 3% to 5% w.e.f. November 02, 2018 in respect of exports by the manufacturers of MSME sector under the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit.
Please note that the Scheme is available to all exports under 416 tariff lines [at ITC (HS) code of 4 digits] and exports made by MSMEs across all ITC(HS) codes.
For more information, members may kindly refer to the RBI’s Notification No. RBI/ 2018-19/81x dated 29th November, 2018
Thanking you,
Yours faithfully,
S.BALARAJU
EXECUTIVE DIRECTOR
