Wait...
  1. Home >
  2. Export Import News >
  3. Foreign Exchange >
  4. Interest subsidy for MSME sector exporters increased to 5%: RBI >
  5. Interest subsidy for MSME sector exporters increased to 5%: RBI

Online Export Import Data Search

Complete Training Video : Click Here

Interest subsidy for MSME sector exporters increased to 5%: RBI.


Date: 30-11-2018
Subject: Interest subsidy for MSME sector exporters increased to 5%: RBI
To boost MSME sector exports, the Reserve Bank said the interest subsidy on post and pre-shipment export credit has been increased to 5 percent from 3 percent.

The increased subsidy is applicable from November 2.

Exporters get the subsidy under the 'Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit'.

"It has been decided by the Government of India to increase w.e.f. November 02, 2018 Interest Equalisation rate from 3 percent to 5 percent in respect of exports by the Micro, Small & Medium Enterprises (MSME) sector manufacturers under the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit," the RBI said in a notification.

The scheme (earlier called Interest Subvention Scheme) was announced by the government in November 2018 for all exports of MSME and 416 tariff lines.

The scheme covers mostly labour intensive and employment generating sectors like processed agriculture/food items, handicrafts, readymade garments, glass and glassware, medical and scientific instruments, and auto components/parts, among others.

In another notification, the RBI said it has relaxed the guidelines for NBFCs on securitisation transactions in order to encourage them to securitise/assign their eligible assets.

"... it has been decided to relax the Minimum Holding Period (MHP) requirement for originating NBFCs, in respect of loans of original maturity above 5 years, to receipt of repayment of six monthly instalments or two quarterly instalments...," it said.

Another notification of the RBI said all participants, other than individuals, undertaking transactions in the markets regulated by it -- Government securities markets, money markets and non-derivative forex markets -- shall obtain Legal Entity Identifier (LEI) codes.

The RBI has given timelines for different types of participants to comply with the directions.

The LEI code has been conceived of as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis.

The LEI is a 20-character unique identity code assigned to entities who are parties to a financial transaction.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 11-10-2019
No. 04/2019- Customs
Clarification regarding inclusion of cesses, surcharge, duties, etc. levied and collected under legislations other than Customs Act, 1962, Customs Tariff Act, 1975 or Central Excise Act, 1944 in Brand Rate of duty drawback

Date: 11-10-2019
Notification No. 23/2015-2020
Amendment in Import Policy Condition of Urea under Exim Code 31021000 in the ITC (HS) 2017, Schedule-I (Import Policy)- regd.

Date: 11-10-2019
Notification No. 24/2015-2020
Amendment in import policy of Indian National Flag.

Date: 09-10-2019
Notification No. 73 /2019-Customs (N.T.)
Notification to amend Courier Regulations 1998 -reg

Date: 09-10-2019
Notification No. 74 /2019-Customs (N.T.)
Notification to amend Courier Regulations 2010 -reg

Date: 09-10-2019
Notification No. 44/2019 – Central Tax
Seeks to prescribe the due date for furnishing of return in FORM GSTR-3B for the months of October, 2019 to March, 2020.

Date: 09-10-2019
Notification No. 45/2019 – Central Tax
Seeks to prescribe the due date for furnishing FORM GSTR-1 for registered persons having aggregate turnover of up to 1.5 crore rupees for the quarters from October, 2019 to March, 2020.

Date: 09-10-2019
Notification No. 46/2019 – Central Tax
Seeks to prescribe the due date for furnishing of return in FORM GSTR-1 for registered persons having aggregate turnover more than 1.5 crore rupees for the months of October, 2019 to March, 2020.

Date: 09-10-2019
Notification No. 47/2019 – Central Tax
Seeks to make filing of annual return under section 44 (1) of CGST Act for F.Y. 2017-18 and 2018-19 optional for small taxpayers whose aggregate turnover is less than Rs 2 crores and who have not filed the said return before the due date.

Date: 09-10-2019
Notification No. 48/2019 – Central Tax
Seeks to amend notification No. 41/2019 – Central Tax, dated the 31st August, 2019.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001