Interest equalisation on pre/post-shipment rupee export credit requires banks to pass benefits and file audited reimbursement claims. Interest equalisation of 3% per annum applies to pre- and post-shipment rupee export credit for eligible exporters (excluding merchant exporters), covering specified 416 HS lines and MSME exports, subject to minimum processing rules of origin. Banks must fully pass on the benefit-crediting accounts for April-November 2015 claims and reducing charged interest from December 2015-and submit sector-wise consolidated reimbursement claims to RBI in the prescribed format with an External Auditor's Certificate; reimbursements will be made by RBI from government provided revolving funds.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest equalisation on pre/post-shipment rupee export credit requires banks to pass benefits and file audited reimbursement claims.
Interest equalisation of 3% per annum applies to pre- and post-shipment rupee export credit for eligible exporters (excluding merchant exporters), covering specified 416 HS lines and MSME exports, subject to minimum processing rules of origin. Banks must fully pass on the benefit-crediting accounts for April-November 2015 claims and reducing charged interest from December 2015-and submit sector-wise consolidated reimbursement claims to RBI in the prescribed format with an External Auditor's Certificate; reimbursements will be made by RBI from government provided revolving funds.
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