RBI has extended two percent Interest Subsidy Scheme for exporters

                  The bankers of all banks, the Reserve Bank has extended the two percent interest subsidy scheme by another year on rupee export credit to the labor-oriented and small scale sectors to protect them from the inevitable slowdown in various markets like the United States and Europe.

                   Exporters of ready made garments, processed agriculture products and carpets, hand looms, handicrafts will be eligible for this interest benefit. This will be available up to March 31, 2013, according to the Reserve Bank of India (RBI). It has to be mentioned here that sports goods and toys exporters would also be eligible for such benefit.

                    However, the government had given interest subvention facility to exporters in the last year also, which expired in March, 2012, and considering the present economic scenario the government has decided to extend interest subvention of two percent on rupee export credit with effect from April 1, 2012 to March 31, 2013.