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of <h1>RBI Caps Rupee Export Credit Rates for Banks at BPLR Minus 2.5% from Nov 2008 to Apr 2009 Under Banking Regulation Act.</h1> The Reserve Bank of India, under the Banking Regulation Act, 1949, has directed that from November 15, 2008, to April 30, 2009, interest rates on rupee export credit by scheduled commercial banks should not exceed the Benchmark Prime Lending Rate (BPLR) minus 2.5 percentage points per annum. This applies to various categories of export credit, including pre-shipment credit up to 270 days and post-shipment credit with specified durations. Banks are permitted to charge rates below these ceilings and can set rates for credit beyond the specified tenors, considering BPLR and spread guidelines.
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