The Bank of India (BOI) has launched a new financial product, BOI STAR EXPORT CREDIT, aimed at supporting the growth of export-oriented units in India, with a special focus on the agriculture and MSME sectors. The scheme offers competitive rates of interest starting from 7.5% per annum and includes features like ECGC premium cost-sharing, interchangeable pre- and post-shipment limits, a standby line of credit facility, and no upper limit on financing.
The bank views this product as a significant step in fostering economic growth by enhancing export capabilities, creating job opportunities, introducing technological innovations, and bolstering foreign exchange reserves. The product is set to be marketed through BOI’s extensive network, including large corporate, emerging corporate credit, SME-focused branches, and FX authorised dealer branches across India.
