Export Credit Refinance Facility: Relaxation

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..... : Relaxation Please refer to paragraph No. 4(vii) of the Reserve Bank's Press Release dated November 15, 2008 on the above-mentioned subject. As indicated therein, the eligible limit of export credit refinance (ECR) facility has been enhanced from the existing level of 15 per cent of the outstanding rupee export credit eligible for refinance as at the end of the second preceding fortnight to 50 .....

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..... ght * ____________ 2. Export Credit Refinance Limit (50 percent of item no. 1) ____________ * Outstanding Export Credit for the purpose of working out refinance limits will be aggregate outstanding export credit minus export bills rediscounted with other banks/Exim Bank/Financial Institutions, export credit against which refinance has been obtained from NABARD/Exim Bank, pre-ship .....

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