Government of India

Ministry of Commerce & Industry

Department of Commerce

Directorate General of Foreign Trade

To,

1. All IEC Holders/Members of Trade and Industry.

2. All concerned Bank Branches.

3. All Export Promotion Councils/Commodity Boards/ Other Industry Associations.

Subject: Amendments under Interest Equalization Scheme - reg.

Attention of Trade and Industry is drawn towards the extension of Interest Equalization Scheme (IES) upto 30.06.2024, as notified by RBI vide its Circular No. DOR.STR.REC.78/04.02.001/2023-24 dated 22.02.2024.

2. In this regard, it may be noted that a cap of Rs. 2.50 Cr per IEC is imposed till 30.06.2024 for the quarter starting from 01.04.2024.

3. This issues with the Competent Authority.

(K M Harilal)

Jt. Director General of Foreign Trade

DGFT Hq

Email: km.harilal@gov.in

(Issued from File No.: 01/94/180/135/AM24/PC-4)