Trade Notice No. 33/2025-26, Dated 20-03-2026
The Directorate General of Foreign Trade (DGFT) has issued amendments to the Interest Subvention guidelines under the Export Promotion Mission (EPM) – Niryat Protsahan, aimed at enhancing clarity, transparency, and procedural certainty in the scheme.
1. Alignment with RBI Directions
The revised framework aligns eligibility conditions with prevailing RBI guidelines, ensuring consistency between export credit norms and interest subvention benefits.
2. Stricter Eligibility and Compliance Conditions
The amendments introduce tighter conditions for availing benefits:
- No interest subvention will be available once an account turns Non-Performing Asset (NPA)
- Exporters must ensure compliance with all eligibility requirements at the time of disbursal
These measures aim to ensure that only creditworthy and compliant accounts receive benefits.
3. Mandatory Unique Identification Number (UIN)
A key procedural change is the introduction of a mandatory Unique Identification Number (UIN):
- UIN must be generated prior to disbursal of export credit
- It serves as a tracking mechanism for monitoring subvention claims
4. Non-Portability of UIN
- The UIN is non-portable across banks
- In case of a change in lending institution, a fresh UIN must be generated
This strengthens traceability and control over the scheme.
5. No Retrospective Benefit
The amendments clearly provide that:
- No retrospective benefit will be allowed
- Interest subvention will apply only to eligible export credit disbursed after the relevant date
- The applicable rate will be the rate prevailing on the date of disbursal
6. Streamlined Claim and Reimbursement Mechanism
The DGFT has introduced a more structured and digitised process:
- Banks must follow an online claim submission mechanism
- Claims will be based on UIN-linked reporting and detailed data submission
7. Responsibility of Exporters
Exporters are required to:
- Ensure that aggregate claims remain within prescribed limits
- Maintain proper compliance with scheme conditions
8. Objective of the Amendments
The revised guidelines aim to:
- Improve transparency and monitoring of interest subvention claims
- Strengthen control mechanisms through UIN tracking
- Align export credit benefits with prudential banking norms
- Enhance ease of administration through digitisation
Overall, the amendments create a more robust, accountable, and technology-driven framework for delivering interest subvention benefits to exporters.
