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Banking > Policies> Monetary and Credit Policy 2001-2002             Click here for FULL credit policy



Current and Revised Interest Rate Structure on Export Credit [Annexure I]


     

Category

Existing

Revised* (With effect from May 5, 2001)

     

Pre-shipment Credit

   

(i) Up to 180 days

10.0 per cent

Not exceeding PLR minus 1.5 percentage points

     

(ii) Beyond 180 days and up to 270 days

13.0 per cent

Not exceeding PLR plus 1.5 percentage points

     

Post-shipment Credit

   
     

a) On demand bills for transit period (as specified by FEDAI)

Not exceeding 10.0 per cent

Not exceeding PLR minus 1.5 percentage points

     

b) Usance Bills

   
     

(i) Up to 90 days

Not exceeding 10.0 per cent

Not exceeding PLR minus 1.5 percentage points

     

(ii) Beyond 90 days and up to 6 months from date of shipment

12.0 per cent

Not exceeding PLR plus 1.5 percentage points

     

* Note : 1. Since these are ceiling rates, banks would be free to charge any rate below the ceiling rates.

2. Interest rates on other miscellaneous categories of export credit will stand revised in accordance with the above restriction. Detailed instructions are being issued separately.







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