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India extends Interest Equalisation Scheme until June 30

24 Feb '24
2 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • India extends Interest Equalization Scheme until June 30, 2024, maintaining rates of 2 per cent for specified exporters and 3 per cent for MSMEs.
  • Modifications include bank-level compliance assessment by DGFT.
  • RBI caps annual net subvention at ₹10 crore per IEC from April 1, 2023, communicated in May 2023 circular.
  • All other provisions remain unchanged.

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