Export credit interest subvention eligibility and scope narrowed; applies only to credit sanctioned on/after 02.01.2026

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....Amendments revise eligibility and scope: export credit qualifies only if extended in accordance with RBI consolidated Directions on Credit Facilities, and interest subvention applies to the interest cost actually borne by eligible MSME exporters, resulting in subvention limited to the recorded interest component. Temporal application: revised subvention rates apply only to facilities sanctioned on or after notification, with existing facilities governed by the rate at sanction; subvention admissible only for export credit sanctioned on or after 02.01.2026. Exclusions and conditions: no subvention for deemed exports or where the account turns NPA before the export cycle; exporters reclassified out of MSME remain eligible for three years post.........