Interest Equalization Scheme extended for rupee export credit, with bank participation conditioned on average lending rate compliance and DGFT undertakings. Extension of the Interest Equalization Scheme until June 30, 2024 continues support for pre and post shipment rupee export credit with differentiated equalization rates and an annual subvention cap measured from April 1, 2023. Banks whose average pre subvention lending rate exceeds the permitted band will be identified by DGFT, must provide a prescribed undertaking to participate, will be restricted from the Scheme until compliance, and face potential debarment on further breaches; DGFT will monitor compliance and require specified documentation.