DGFT Circular No. 65 (RE:03)/2002-2007 dated 18th May, 2004 issued by Director General of Foreign Trade Ministry of Commerce & Industry vide F. No. 01/87/171/0001/AM05/DES VIII-Vol. II (Extract of the Public Notice) In exercise of powers conferred under paragraph 2.4 of the Export and Import Policy, 2002-2007 and paragraph 1.1 of the Handbook of Precedures (Vol.I) the Director General of Foreign Trade. hereby makes the following addition / correction / amendment in the book titled “Schedule of DEPB rates”:

IV Product Group : Textiles                                                                                                   Product Code : 89

The DEPB rate of Sr. No. 68 revised to 11% and the description of this entry amended to read as “Cotton Made ups including quilted cotton made ups with or without embroidery and / or with or without metalized yarn”

This issues in Public Interest.

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(L. Mansingh)
Director General of Foreign Trade

Exim Bank

Exim Bank’s Line of Credit

Trinided and Tobago

The Exim Bank has concluded an agreement with Republic Bank, Trinidad and Tobago making available to the latter, a Line of Credit (LOC) upto an aggregate sum of USD 8 million. The Credit Agreement is effective from May 14, 2004. The terminal dates for opening letters of credit and disbursement of credit are May 14, 2005 and November 14, 2005 respectively. While no agency commission shall be payable in respect of exports financed under the above line of credit, Reserve Bank may consider, on merit, requests for payment of commission upto a maximum extent of 5 per cent of the f.o.b. / c & f / c.i.f. value. Approval for payment of commission should be obtained before the relevant shipment is effected.

RBI

IECD No. 10/04.02.01/2003-04 dated 24th April, 2004 issued by
Reserve Bank of India
Industrial & Export Credit Department

Rupee Export Credit Interest Rates

Please refer to our circular IECD. No. 5/04.02.01/2002-03 dated October 31,2003 on the captioned subject.

2. The validity of the interest rates on rupee export credit indicated in the above circular would now remain in force upto April 30,2005. In this connection, you may please refer to circular No. MPD 248/07.01.279/2003-04 dated April 23, 2004. The rates of interest applicable have been incorporated in the Annexure to the Directive DBOD No. BC. 81/13.07.01/2003- 04 dated April 24, 2004 enclosed to this circular.

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( Smt. R. K. Makhija)
Chief General Manager

Annexure

DIRECTIVE DBOD No. BC. 81/13.07.01/2003-04 dated 24th April, 2004 issued by
Reserve Bank of India
Department of Banking Operations and Development

Interest Rates on Advances

     In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act 1949, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby directs that with effect from May 1, 2004 the interest rates on rupee export credit would be as indicated in the Annexure enclosed to this Directive.

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( P. V. Subba Rao)
Executive Director

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