Cabinet approves additional allocation of Rs 2500 crore for continuation of Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit till 30.06.2024
Goverment Scheme
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved additional allocation of Rs 2500 crore for continuation of the Interest Equalization Scheme till 30 June 2024. This will help exporters from identified sectors and all MSME manufacturer exporters to avail pre and post benefits. The scheme will be implemented by RBI through various public and non-public sector banks that provide pre and post shipment loans to exporters. The scheme is jointly monitored by DGFT and RBI through a consultative mechanism. Under the scheme, an additional outlay of Rs 2500 crore in addition to the current outlay of Rs 9538 crore has been provided to bridge the funding gap for continuation of the scheme till 30.06.2024. The intended target beneficiaries include all MSME manufacturer exporters and non-MSME exporters from certain identified sectors belonging to 410 tariff lines at the four-digit level.
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