RBI/2009-10/157

Ref.: UBD.CO.BPD.Cir. No. 1/13.05.000/2009-10

September 15, 2009

Chief Executive Officer

Scheduled Urban Co-operative Banks

(holding AD Category I licences)

Dear Sir/ Madam,

Rupee Export Credit Interest Rates

Please refer to our circular UBD.PCB.Cir. No. 3/13.05.000/2008-09 dated June 18, 2009 on the captioned subject regarding extension of interest subvention of 2 percentage points w.e.f. June 1, 2009 till September 30, 2009 on rupee export credit extended by Scheduled UCBs holding AD category I licences, to certain specified categories of export sector.

2. It has been decided to extend the interest subvention of 2% on rupee export credit for a further period of six months i.e. from October 1, 2009 till March 31, 2010 to the same sectors and on the same terms and conditions.

3. A directive UBD.BPD.DIR.No. 1/13.05.000/2009-10 dated September 10, 2009 issued in this regard is enclosed.

Yours faithfully,

(A. K. Khound)

Chief General Manager-in-Charge

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