INTEREST SUBVENTION ON EXPORT CREDIT EXTENDED

It has been decided that the interest subvention on export credit be continued for one more year from April 1, 2008 till March 31, 2009 on the terms and conditions as they existed on March 31, 2008. However, while allowing this benefit it is to be ensured that the interest rate after subvention does not fall below 7 % which is the rate applicable to agriculture sector under priority sector lending.