The Reserve Bank of India ( RBI ) has extended the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit.
A notification issued by RBI said that, In this connection, the Government of India has approved the extension of the Interest Equalization Scheme for pre and post-shipment Rupee export credit, with the same scope and coverage, for one more year i.e. up to March 31, 2021.
The extension shall take effect from April 01, 2020, and end on March 31, 2021, covering a period of one year.
The Government of India had announced the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit to eligible exporters. The scheme was effective from April 1, 2015. The details of the scheme are enclosed. The interest equalization benefit will be available from the date of disbursement up to the date of repayment or up to the date beyond which the outstanding export credit becomes overdue.