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Our Bureau

Mumbai, Aug 1 The Reserve Bank of India has decided to discontinue the interest subsidy on rupee export credit from September 30, 2008.

Earlier, following the government advice, the RBI had extended the subsidy scheme up to March 2009.

Under the scheme, exporters of specified items were eligible for four per cent interest subsidy on rupee export credit.

In a circular issued today, RBI said now the Government has decided to bring this Scheme to a close with effect from September 30, 2008.

More Stories on : Exports & Imports | RBI & Other Central Banks | Interest Rates

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