Srinagar, Oct 13: The Reserve Bank of India has issued instruction to all Scheduled Commercial Banks to extend interest subvention of 2 per cent on rupee export credit with effect from April 1, 2011 to March 31, 2012 on pre- and post-shipment for Handicrafts, Handlooms, Carpets and Small and Medium Enterprises (SMEs). Meanwhile, the Kashmir Chamber of Commerce and Industry today said it had strongly raised this issue with the authorities concerned.
 “After receiving various representations from exporters of Handicraft, Handloom and Carpet Sectors regarding increase in the interest rate of pre- and post-shipment credit availed by them from different Banks, we strongly raised the issue with the authorities concerned,” it said.

Lastupdate on : Thu, 13 Oct 2011 21:30:00 Makkah time
Lastupdate on : Thu, 13 Oct 2011 18:30:00 GMT
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