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of <h1>Export credit interest subvention for eligible MSME exporters clarified: limited to interest, new rates apply only to new sanctions</h1> Amendments clarify scope and eligibility: export credit in conformity with RBI consolidated Directions on Credit Facilities qualifies for support, and support is limited to eligible MSME exporters covering the interest cost, thereby restricting coverage to interest borne by such exporters. Revised subvention rates apply only to facilities sanctioned on or after the notification date, so existing sanctions retain prior rates. Interest subvention is excluded for deemed exports and for accounts turning non-performing before completion of the eligible export cycle, thereby disallowing support in those cases. Exporters graduating out of MSME status remain eligible for three years post re-classification, preserving transitional entitlement. Banks must submit IEC-wise monthly online verified claims within 15 days and reimbursements will equal actual verified subvention amounts, with aggregate annual ceilings borne by exporters and recoveries for any excess.
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