INTEREST RATES ON PRE-SHIPMENT CREDIT AND EXPORT BILL DISCOUNTING IN FOREIGN CURRENCY LOANS

PCFC / EBR PRICING W.E.F FROM 25.03.2013
Type of Credit and Interest Rate Slab Interest rates w.e.f 25th March 2013
A. Pre-shipment Credit in Foreign Currency (PCFC)

i) Upto 90 days

3 months LIBOR/ EUROLIBOR / EURIBOR+ 2.00%

ii) Beyond 90 & upto 180 days

6 months LIBOR/ EUROLIBOR / EURIBOR+ 2.00%

iii) Beyond 180 days and upto 360 days

Rate for initial period of 180 days prevailing at the time of extension plus 2.00%.

iv) If no export takes place within 360 days

PCFC to be adjusted immediately by sale of foreign currency against rupees at prevailing TT Selling rate. Interest to be recovered at 2% over the rate applicable to the cash credit a/c of borrower from the date of advance. Interest recovered earlier at LIBOR related rates to be adjusted.

B. Export Bills Rediscounting Scheme (EBR)

i) On demand bills for transit period (as specified by FEDAI)

1 months LIBOR/ EURO LIBOR / EURIBOR + 2.00%

ii) Usance bills (for total period comprising usance period of export bills, transit period as specified by FEDAI and grace period wherever applicable) up to 3 months from the date of shipment

3 months LIBOR/ EURO LIBOR / EURIBOR + 2.00%

iii) Usance bills (for total period comprising usance period of export bills, transit period as specified by FEDAI and grace period wherever applicable) beyond 3 months up to 6 months from the date of shipment

6 months LIBOR/EURO LIBOR/EURIBOR + 2.00%

iv) Export Bills (demand and usance) realized after due date but up to date of crystallization.

Rate for B(ii) /B(iii) above plus 2.00%