The Directorate General of Foreign Trade (DGFT) on April 21, 2023, issued a notification regarding amendment under the Interest Equalisation Scheme in respect of UIN.
The attention of Trade and Industry is drawn towards Trade Notice no. 03/2023-24 dated April 20, 2023, wherein the eligible Interest Equalisation beneficiaries with effect from May 01, 2023, were required to submit an acknowledgment consisting of UIN which would be associated with a particular bank only for a ONE-TIME disbursement, also applicable where the credit is rolled over.
The amendments stated under the Trade as mentioned earlier Notice are deferred in view of the operational challenges expressed by the scheme's beneficiaries and the banks. The revised guidelines are as follows:
• An Acknowledgement consisting of UIN, valid for a financial year shall be unique to a specific bank. If a scheme beneficiary desires to take advantage of the scheme's benefits from multiple banks, a new UIN must be provided for each bank.
[Trade Notice No. 04/2023-24]
