<h1>RBI Lowers Export Credit Refinance Limit to 32% for Banks on Eligible Outstanding Rupee Export Credit.</h1> The Reserve Bank of India (RBI) offers an export credit refinance (ECR) facility to banks, based on their eligible outstanding rupee export credit at both pre-shipment and post-shipment stages. Currently, banks receive refinance up to 32% of eligible outstanding export credit, reduced from 50% as per a June 2014 circular. There is no cap on refinancing export bills from individual exporters. Utilization of ECR by nationalized, private, and foreign banks remains high, with figures for 2014-15 showing continued strong usage similar to 2013-14 levels. This information was shared by a government official in a written response to the Lok Sabha.