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Amendment under Interest Equalisation Scheme- (Ministry of Commerce and Industry) (25 May 2023)

MANU/DGFT/0077/2023

Commercial

1. Attention of Trade and Industry is drawn towards the extension of Interest Equalisation Scheme (IES) upto 31.03.2024, as notified by RBI vide its Circular no. DOR.STR.REC.93/04.02.001/2021-22 dated 08.03.2022.

2. The below-mentioned amendment is made with immediate effect for rationalization of the scheme:

"The annual net subvention amount would be capped at Rs. 10 crore per IEC in a given financial year. All disbursements made from 01.04.2023 shall be counted for an IEC for the current financial year."

3. This issues with the approval of the Competent Authority.

Tags : AMENDMENT INTEREST EQUALISATION SCHEME

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