Rupee Export Credit Interest Rates-Extension of period of credit - FEMA - DBOD.Dir.(Exp).BC.No.80/04.02.01/2008- 09

RBI/2008-09/ 280 DBOD.Dir.(Exp).BC.No.80/04.02.01/2008- 09 November 15, 2008 Rupee Export Credit Interest Rates-Extension of period of credit Please refer to our circular DBOD Dir (Exp) No 68/04.02.01/2008-09, dated October 24, 2008 on the captioned subject. 2. In view of the difficulties faced by exporters on account of the weakening of external demand , it has been decided that the prescribed interest rate of BPLR minus 2.5 percentage points as applicable on Pre-shipment Rupee Export Credit may be extended up to 270 days (as against existing up to 180 days) with effect from November 15, 2008. 3. The revised period of credit has been incorporated in the Annexure to the Directive DBOD.Dir.(Exp).BC.No.79/04.02.01/2008-09 dated November 15, 2008 enclosed to this circular. (Vinay Baijal)Chief General Manager