Amendment under Interest Equalisation Scheme in respect of UIN - DGFT - Trade Notice No. 04/2023-24

Government of India Ministry of Commerce Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan, New Delhi Dated: 21.04.2023 Trade Notice No. 04/2023-24 To, 1. All IEC Holders/Members of Trade Industry 2. All Concerned bank branches 3. All Export Promotion Councils/Commodity Boards/ Other Industry Associations Subject: Amendment under Interest Equalisation Scheme in respect of UIN- reg. Attention of Trade and Industry is drawn towards Trade Notice no. 03/2023-24 dated 20.04.2023, wherein the eligible Interest Equalisation beneficiaries w.e.f 01.05.2023 were required to submit an Acknowledgement consisting of UIN which would be associated with a particular bank only for a ONE-TIME disbursement, also applicable where the credit is rolled over. 2. The amendments stated under the above-mentioned Trade Notice are deferred in view of the operational challenges expressed by the beneficiaries of the scheme and the banks. The revised guidelines are as follows: An Acknowledgement consisting of UIN, valid for a financial year shall be unique to a specific bank. If a scheme beneficiary desires to take advantage of the benefits of the scheme from multiple banks, a new UIN must be provided for each bank. 3. This issues with the approval of the Competent Authority. (Rohit Soni) Deputy Director General of Foreign Trade Email: [email protected] (Issued from File No. 01/94/180/094/AM22/PC-4)