Page 54 - Banking Finance June 2022

RBI CIRCULAR

term loan to the latter for financing purchase of Medium Enterprises number S.O. 2119 (E), dated June
essential goods by Sri Lanka from India, it has been 26, 2020, published in the Gazette of India.
decided that such trade transactions with Sri Lanka,
3. In view of the above amendment, it is clarified that:
falling under the said arrangement, may be settled in
i) the existing Entrepreneurs Memorandum (EM)
INR outside the ACU mechanism.
Part II and Udyog Aadhaar Memorandum (UAM)
3. Under the arrangement, financing of export of eligible of the MSMEs obtained till June 30, 2020 shall
goods and services from India, as defined under the remain valid till June 30, 2022 for classification as
agreement, would be allowed subject to their being MSMEs; and
eligible for export under the Foreign Trade Policy of the
ii) the validity of documents obtained in terms of
Government of India and whose purchase may be
O.M. No.12(4)/ 2017-SME dated March 8, 2017
agreed to be financed by SBI under this agreement.
(RBI Circular FIDD.MSME & NFS.BC.No.10/
4. The above instructions shall come into force with 06.02.31/2017-18 dated July 13, 2017), for
immediate effect. AD Category-I banks may bring the classification of MSMEs upto June 30, 2020, has
contents of this circular to the notice of their been extended upto June 30, 2022.
constituents concerned and advise them to obtain
(Nisha Nambiar)
complete details of the credit facility agreement from
Chief General Manager
State Bank of India’s office at International Banking
Group, Corporate Centre, State Bank Bhavan, Madame
Kisan Credit Card Scheme - Eligibility
Cama Road, Nariman Point, Mumbai- 400021 or from
their website https://sbi.co.in/web/international- criteria for farmers engaged in fisheries/
banking/credit-finance/commercial-loans.
aquaculture
5. The directions contained in this circular have been
RBI/2022-23/51
issued under sections 10(4) and 11(1) of the Foreign
May 18, 2022
Exchange Management Act (FEMA), 1999 (42 of 1999)
and are without prejudice to permissions / approvals,
1. Please refer to Para 3.1.1.2 of our circular
if any, required under any other law.
FIDD.CO.FSD.BC.12/05.05.010/2018-19 dated February
04, 2019 on Kisan Credit Card (KCC) Scheme: Working
(Vivek Srivastava)
Capital for Animal Husbandry and Fisheries. It has been
Chief General Manager
brought to our notice that licensing/authorisation
related requirements pertaining to fishing/aquaculture
New Definition of Micro, Small and
in inland water bodies vary across states. Accordingly,
Medium Enterprises - Clarification the eligibility criteria for inland fisheries and
aquaculture under Para 3.1.1.2 of the circular stand
RBI/2022-23/52
modified as follows:
May 19, 2022
The beneficiaries must own or lease any fisheries
related assets such as ponds, tanks, open water bodies,
1. Please refer to our circulars FIDD.MSME &
raceways, hatcheries, rearing units, boats, nets and
NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020,
such other fishing gear as the case may be and possess
FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 dated
necessary authorisation/certification as may be
August 21, 2020 and FIDD.MSME & NFS.BC.No.16/
applicable in respective states for fish farming and
06.02.31/2021-22 dated February 18, 2022, regarding
fishing related activities and for any other state specific
revised criteria for classification of Micro, Small and
fisheries and allied activities.
Medium Enterprises.
2. All other terms and conditions of the scheme remain
2. Government of India, vide Gazette Notification S.O.
unchanged.
2134(E) dated May 06, 2022, has notified amendments
in sub paragraph (3) paragraph (7) of the notification (Nisha Nambiar)
of Government of India, Ministry of Micro, Small and Chief General Manager
54 | 2022 | JUNE | BANKING FINANCE