CONCESSIONAL CREDIT TO EXPORTERS EXTENDED

Providing relief to exporters hit by shrinking global demand, the Reserve Bank of India has extended the concessional interest rate scheme by six months till October 2009. The ceiling of interest rate on pre- shipment rupee export credit up to 270 days and post-shipment credit up to 180 days at BPLR minus 2.5% was to expire on April 30, 2009. It has been decided to extend the validity up to October 31, 2009.