The Directorate General of Foreign Trade (DGFT) on April 20, 2023, issued amendments under the Interest Equalisation Scheme in respect of UIN.
The following has been stated namely: -
• Earlier, the eligible Interest Equalisation beneficiaries are required to submit an Acknowledgement consisting of a Unique Identification Number (UIN) to the concerned bank to avail of the interest subvention under this scheme with effect from April 01, 2022.
• Now, all the exporters seeking benefits under the Interest Equalisation Scheme with effect from May 01, 2023, are required to submit an Acknowledgement consisting of UIN which would be associated with a particular bank only for a ONE-TIME disbursement.
• The beneficiaries of this scheme are directed to submit a new UIN for each disbursement to the concerned bank.
• This also applies where the credit is rolled over, and a new UIN shall be generated by the exporter for each rollover.
[Notification No. 03/2023-24]
