It has been decided to extend additional
subvention of 2 per cent (in addition to the
2 per cent already offered earlier) in pre shipment
and post-shipment credit to the
following sectors:
- Leather and Leather manufacturers
- Marine products
- All categories of textiles under the
existing scheme including RMG
and carpets but excluding man-made
fibre; and
- Handicrafts
Banks will therefore now charge interest
rates not exceeding BPLR minus
6.5 per cent on pre-shipment credit up
to 180 days and post-shipment credit up
to 90 days on the outstanding amount in
respect of the above mentioned sectors.
However, the total subvention will be
subject to the condition that the interest
rate, after subvention will not fall below
7 per cent which is the rate applicable
to the agriculture sector under priority
sector lending. The above dispensation
is valid from November 1, 2007 to
March 31, 2008.
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