Interest subvention on export credit: EXIM Bank replaces RBI as implementing agency from 1 April 2026
Trade Notice 17/2026-27 records the transition under the Export Promotion Mission – Niryat Protsahan. Banks will now claim reimbursement from EXIM Bank; the benefit still reaches the MSME exporter upfront.
Key facts
- Published
- 7 August 2026
- Section
- Foreign Trade
- What it is
- Rule change
- In force
- 1 April 2026
- Who it affects
- MSME exporters availing pre- and post-shipment credit; lending banks
In 30 seconds
- EXIM Bank is the implementing agency for portal management, verification and claim settlement from 1 April 2026.
- Supplementary claims for the January–March 2026 quarter continue to be processed by RBI.
- Lending institutions still pass on the subvention upfront to the eligible MSME exporter.
- All other provisions of Trade Notice 20/2025-26 and later notices are unchanged.
हिंदी में सार
निर्यात ऋण पर ब्याज सहायता (Interest Subvention) स्कीम की implementing agency 1 अप्रैल 2026 से RBI की जगह EXIM Bank है। DGFT के Trade Notice 17/2026-27 के अनुसार बैंक अब reimbursement EXIM Bank से लेंगे; MSME निर्यातक को लाभ पहले की तरह बैंक से सीधे मिलता रहेगा। जनवरी–मार्च 2026 तिमाही के बचे दावे RBI ही निपटाएगा।
What has changed
The Interest Subvention Support for Pre- and Post-Shipment Export Credit was first run through the Reserve Bank of India on a pilot basis. Following a decision at the 4th Steering Committee meeting, the implementing agency has moved to the Export-Import Bank of India with effect from 1 April 2026.
| Item | Earlier | Now |
|---|---|---|
| Banks claim reimbursement from | RBI | EXIM Bank |
| Scrutiny that a claim is within the annual ceiling per IEC | RBI | EXIM Bank |
| Monthly bank-wise report of claims | RBI | EXIM Bank |
What stays the same for the exporter
- Export credit is sanctioned and disbursed by lending institutions as per RBI’s Consolidated Directions on Credit Facilities.
- The lending institution passes on the interest subvention upfront to the eligible MSME exporter and then claims it back.
- Reimbursement to banks is monthly, limited to the subvention actually extended, on claims certified by the external auditor.
Published 7 August 2026. Updated 2 October 2026. This report is for general information and is not professional advice. Read the source document before acting on it.