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Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit

Published on October 09, 2024
Current Context: The Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit has been extended by the Reserve Bank of India (RBI) until December 31, 2024.
Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
  • This extension aims to support exporters, particularly Micro, Small, and Medium Enterprises (MSMEs), amid global economic challenges.
  • Key points about the scheme:
    • Interest Equalization Rates: The scheme provides an interest equalization benefit of 2% for merchant and manufacturer exporters of 410 identified tariff lines and 3% for all MSME manufacturer exporters.
    • Fiscal Cap: For the financial year 2024-25, the fiscal benefits for each MSME are capped at ₹50 lakhs. MSMEs that have already availed benefits up to this limit by September 30, 2024, will not be eligible for further benefits during the extended period.
    • Eligibility: The scheme is applicable to all scheduled commercial banks (excluding RRBs), primary (urban) cooperative banks, state cooperative banks with AD category-I licenses, and the Exim Bank.

Question:

1 What is the maximum fiscal benefit cap for MSMEs under the Interest Equalization Scheme (IES) for the financial year 2024-25?

  • A) Rs. 50 lakh
  • B) Rs. 25 lakhs
  • C) Rs. 40 lakhs
  • D) Rs. 75 lakhs
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