The DGFT has issued an revised Trade Notice No. 04/2023-24 dated April 21, 2023 to amend the Interest Equalisation Scheme in respect of the Unique Identification Number (“UIN”).
Attention of Trade and Industry is drawn towards Trade Notice no. 03/2023-24 dated April 20, 2023, wherein the eligible Interest Equalisation beneficiaries w.e.f May 01, 2023 were required to submit an Acknowledgement consisting of UIN which would be associated with a particular bank only for a ONE-TIME disbursement, also applicable where the credit is rolled over.
The amendments stated under the above-mentioned Trade Notice are deferred in view of the operational challenges expressed by the beneficiaries of the scheme and the banks. The revised guidelines are as follows:
- An Acknowledgement consisting of UIN, valid for a financial year shall be unique to a specific bank. If a scheme beneficiary desires to take advantage of the benefits of the scheme from multiple banks, a new UIN must be provided for each bank.
The Trade Notice can be accessed at: https://content.dgft.gov.in/Website/dgftprod/fd660f89-4990-47dd-bc85-543cf5c33fab/Trade%20Notice%2004.pdf