The interest subvention scheme was initially operationalised through the Reserve Bank of India (RBI) on a pilot basis.
Following an institutional transition decision taken during a steering committee meeting on the scheme, approval has been formally accorded for the transition of the implementing agency from the RBI to the Export-Import Bank of India (EXIM Bank) with effect from April 1, 2026, the Directorate General of Foreign Trade (DGFT) said in a notice.
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“EXIM Bank shall serve as the implementing agency for all operationalisations, portal management, verification, and claim settlement workflows from 1st April 2026 onwards,” the notice said.
It added that any supplementary or additional claims from participating lending banks for the quarter ending January to March 2026 will continue to be processed by the RBI.