| Date: |
26-04-2010 |
| Subject: |
RBI removes rupee export credit rates ceiling |
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The Reserve Bank of India (RBI) said on Friday it has removed the ceilings on interest rates on pre-shipment rupee export credit up to 270 days and post-shipment rupee export credit up to 180 days.
"Banks shall be free to decide the lending rate on export credit at or above the base rate with effect from July 1," the central bank said in a statement.
Source : Sify
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