The Reserve Banking of India (RBI) on October 09, 2024, issued the notification regarding the Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit.
The following has been stated namely: -
• The Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit ('Scheme') has been extended for three months up to December 31, 2024
• The Scheme has been modified namely: -
o Fiscal benefits of each MSME, on aggregate, will be restricted to ₹50 lakhs for the Financial Year 2024-25 till December 31, 2024.
o Accordingly, MSME manufacturer exporters who have already availed equalisation benefits of ₹50 lakhs or more in the Financial Year 2024-25 till September 30, 2024, will not be eligible for any further benefit in the extended period.
[Notification No. RBI/2024-25/80]
