Interest Subsidies

Govt considering $7.2 billion housing loan interest subsidy scheme

The scheme will offer an annual interest subsidy of between 3-6.5% on up to 0.9 million rupees of the loan amount

Increase in packing credit interest subsidy from 3% to 5% sought

Tirupur Exporters' Association (TEA) on Wednesday sought an increase in packing credit interest subsidy from three to five per cent. TEA president K N Subramanian said the major requirement for Tirupur is increase in the interest subvention provided under the interest equalisation scheme from 3 per cent to 5 per cent across the board as was existing in the pre-COVID period. Subramanian, in a statement, requested the RBI to extend the export refinance scheme to banks to augment export credit. Under such a mechanism, banks may be encouraged to provide export credit in rupee to exporters and the same amount can be refinanced by the RBI at the repo rate, he said. Such mechanism would cut the interest cost for export credit providing the much-needed competitiveness to exports, he said. Subramanian advised exporters to opt for foreign currency denominated credit and provide comfort during the extreme volatility in dollar, without any hedging cost. In the wake of the unusual business ...

Govt starts works on sale of 4 Air India subsidiaries it retained

Ground-handling arm would be monetised first; investor roadshows for all companies organised

Interest subsidy scheme for exporters extended till March 2024: RBI

The Reserve Bank on Tuesday extended the interest equalisation scheme for pre and post shipment rupee credit for MSME exporters till March 2024 with the objective of boosting outbound shipments.

Interest subsidy of Rs 41,415 cr disbursed so far under PMAY (Urban): Govt

The government has disbursed interest subsidy of Rs 41,415 crore to 17.68 lakh beneficiaries so far under the Pradhan Mantri Awas Yojana (Urban), the Rajya Sabha was informed on Monday.

FinMin to replace interest subvention with back-ended subsidies

The government has also asked states to coordinate with one another in market borrowings so that there is no liquidity crunch