From THE HINDU group of publications
Sunday, September 30, 2001
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From THE HINDU group of publications Sunday, September 30, 2001 |
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RBI cuts rates on export credit
The RBI has cut interest rates for export credit by one percentage point across the board, and has also announced a special package for large exporters of select items.
The maximum interest rates that banks can charge to exporters is now 2.5 percentage points below their prime lending rate (PLR) for pre-shipment credit up to 180 days and for post-shipment credit up to 90 days. The earlier ceiling was 1.5 percentage points below the PLR.
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