The Reserve Bank of India vide its notification dated 13th May 2020 has extended the Interest Equalization Scheme for pre and post-shipment Rupee export credit with the same coverage for one more year which is valid up to 31st March 2021. The extension shall take effect from April 01, 2020, and end on March 31, 2021, covering a period of one year.
The government announced this new scheme in November 2018 & it applies to all exports to the MSME sector and the interest subsidy on loan before & after sending export goods has been increased to 5% from 3% by the RBI. The exporters are assisted by the Government under the above said scheme, which was earlier known as Interest Subvention Scheme.
Click here to read the notification.
