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    Export Credit Refinance (ECR) limit is fixed at 15 per cent of the outstanding rupee export credit eligible for refinance as at the end of the second preceding fortnight. With a view to enhancing the credit flow to the export sector, it has been decided to enhance the eligible limit of the ECR facility for scheduled banks to 50 per cent effective fortnight beginning June 30, 2012. This will provide additional liquidity support to banks of over 300 billion.

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    Export Credit Refinance (ECR) limit is fixed at 15 per cent of the outstanding rupee export credit eligible for refinance as at the end of the second preceding fortnight. With a view to enhancing the credit flow to the export sector, it has been decided to enhance the eligible limit of the ECR facility for scheduled banks to 50 per cent effective fortnight beginning June 30, 2012. This will provide additional liquidity support to banks of over 300 billion.

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    8 views1 page

    Export Credit Refinance

    Uploaded by

    callvk
    Export Credit Refinance (ECR) limit is fixed at 15 per cent of the outstanding rupee export credit eligible for refinance as at the end of the second preceding fortnight. With a view to enhancing the credit flow to the export sector, it has been decided to enhance the eligible limit of the ECR facility for scheduled banks to 50 per cent effective fortnight beginning June 30, 2012. This will provide additional liquidity support to banks of over 300 billion.

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    of 1

    _______________ RESERVE BANK OF INDIA________________

    www.rbi.org.in

    RBI/2011-12/603 Ref. MPD. No. 355 /07.01.279/2011-12 Jyestha 28,1934 (Saka) June 18, 2012

    To All Scheduled Banks [excluding Regional Rural Banks (RRBs)] Dear Sir/Madam, Export Credit Refinance Facility (ECR): Relaxation At present, the Export Credit Refinance (ECR) limit is fixed at 15 per cent of the outstanding rupee export credit eligible for refinance as at the end of the second preceding fortnight.

    With a view to enhancing the credit flow to the export sector, it has been decided to enhance the eligible limit of the ECR facility for scheduled banks (excluding RRBs) from 15 per cent of the outstanding export credit eligible for refinance to 50 per cent, effective fortnight beginning June 30, 2012. This will provide additional liquidity support to banks of over `300 billion. The rate of interest charged on the ECR facility will continue to be the prevailing repo rate under the LAF, which is currently 8.0 per cent.
    Yours faithfully,

    (Janak Raj) Adviser-in-Charge

    Related Press Release Jun 18, 2012 Export Credit Refinance Facility (ECR) relaxed

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