Money & Banking

MSME exports: Govt plans to hike interest equalisation rate

Mumbai | Updated on November 29, 2018 Published on November 29, 2018

To help Indian exports become internationally competitive , the government has decided to increase the interest equalisation rate from 3 per cent to 5 per cent in respect of exports by manufacturers in the MSME sector. This increased subvention is under the Interest Equalisation Scheme on Pre and Post-Shipment Rupee Export Credit.

“The scheme is available to all xports under 416 tariff lines and exports made by MSMEs across all ITC (HS) – Indian Trade Clarification (Harmonised System) codes. It is, therefore, advised that the benefit of the scheme be provided to all eligible MSME exporters,” an RBI notification said

Published on November 29, 2018
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