Reserve Bank of India (RBI) issues operational guidelines for Export Credit Interest Subvention Scheme

Key facts

• The Reserve Bank of India (RBI) issued operational guidance for the implementation of the Government of India’s Interest Subvention Scheme for pre- and post-shipment export credit.
• The scheme is introduced on a pilot basis under the Export Promotion Mission (EPM) – Niryat Prothsahan.
• The RBI directed all scheduled commercial banks (excluding regional rural banks), primary urban co-operative banks, state co-operative banks, and all-India financial institutions to extend the interest subvention.
• Lending institutions must adhere to operational instructions issued by the Directorate General of Foreign Trade (DGFT) through Trade Notices dated January 2, 2026, and January 16, 2026.
• The scheme aims to support exporters by reducing the interest burden on eligible export credit.
• The RBI circular, dated January 19, 2026, emphasizes that claims must be submitted according to prescribed procedures and existing regulatory instructions.