Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
The Reserve Bank of India (RBI) issued Circular, addressing Scheduled Commercial Banks, Primary (Urban) Cooperative Banks, State Cooperative Banks, and Exim Bank regarding the Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit. The circular extends the Scheme until June 30, 2024, with revised interest rates. Notably, the Scheme now offers 2% interest equalization for Manufacturers and Merchant Exporters and 3% for MSME manufacturers. However, certain modifications have been advised, including restrictions on banks with an average interest rate higher than Repo Rate + 4% and a cap on the subvention amount.
The Reserve Bank of India (RBI) issued Circular, addressing Scheduled Commercial Banks, Primary (Urban) Cooperative Banks, State Cooperative Banks, and Exim Bank regarding the Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit. The circular extends the Scheme until June 30, 2024, with revised interest rates. Notably, the Scheme now offers 2% interest equalization for Manufacturers and Merchant Exporters and 3% for MSME manufacturers. However, certain modifications have been advised, including restrictions on banks with an average interest rate higher than Repo Rate + 4% and a cap on the subvention amount.
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