MANU/DGFT/0038/2022

Ministry : Ministry of Commerce and Industry

Department/Board : DGFT

Trade Notice No. : 38/2021-2022

Date : 15.03.2022

Notification/ Circulars Referred : Circular no. DOR.STR.REC.93/04.02.001/2021-22 dated 08.03.2022 MANU/RMIC/0032/2022

Citing Reference:
Circular no. DOR.STR.REC.93/04.02.001/2021-22 dated 08.03.2022 MANU/RMIC/0032/2022  Referred

To,

1. All IEC Holders/Members of Trade & Industry

2. All Concerned banks and its branches

3. AllRAs of DGFT

4. Export Promotion Councils/Commodity Boards/ other Industry Associations

Operationalisation of new online IT Module for Interest Equalisation Scheme

1. Attention of the trade and industry is drawn towards the extension of the Interest Equalisation Scheme (IES) upto 31.3.2024, as notified by RBI vide its circular no. DOR.STR.REC.93/04.02.001/2021-22 dated 08.03.2022. In order to capture granular data about the beneficiaries of the scheme and its effective monitoring, it has been decided to operationalise a new online module for filing of electronic registration for Interest Equalisation Scheme w.e.f. 01.04.2022.

2. All exporters seeking benefit under the Interest Equalisation Scheme need to apply online by navigating to the DGFT website (https://dgft.gov.in) → Services → Interest Equalisation Scheme. A Unique IES Identification Number (UIN) will get generated automatically which is required to be submitted to the concerned bank when availing Interest Equalisation against their pre and post shipment rupee export credit applications.

3. For generating UIN the following steps need to be followed by all concerned exporters -