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New Delhi, April 25 The Reserve Bank of India (RBI) has extended the validity of the existing dispensation on interest rate ceiling on rupee export credit to October 31, 2008.

Under the existing regime, the ceiling on interest rates on pre-shipment rupee export credit up to 180 days and post-shipment rupee export credit up to 90 days were pegged at Benchmark Prime Lending Rate (BPLR) minus 2.5 per cent. This ceiling was earlier valid up to April 30, 2008 and now extended to October 31, 2008.

As these are ceiling rates, banks would be allowed to charge any rate within this ceiling rate for these specified tenors.

More Stories on : Exports & Imports | RBI & Other Central Banks | Credit Market

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