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RBI Master Circular on Export Credit & Customer Service (2011)

No longer current — withdrawn, no replacement on file yet

Source: Reserve Bank of India · RBI/2011-12/60 · issued 01 Jul 2011 · ~1 min read

Quick answerRBI consolidated all export credit instructions into a single Master Circular effective July 1, 2011, covering rupee and foreign currency pre/post-shipment credit, interest rates, and customer service norms for scheduled commercial banks (excluding RRBs).

What changed

RBI updated its 2010 Master Circular on Rupee/Foreign Currency Export Credit and Customer Service to Exporters, incorporating all circulars and clarifications issued up to June 30, 2011. The new circular consolidates previous instructions into one document for easier reference.

What it means for you

Banks must now refer to this single Master Circular for all export credit guidelines, ensuring uniformity in pre-shipment and post-shipment lending in both rupee and foreign currency. The circular also includes updated customer service and reporting requirements, which may affect loan processing and compliance workflows.

Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.

What banks were required to do at the time

Replace the 2010 Master Circular with this updated version for all export credit operations.
Review Part A (Rupee Export Credit) and Part B (Foreign Currency Export Credit) for any changes in interest rate directives.
Ensure customer service and reporting procedures align with Part C of the circular.
Train staff on the consolidated guidelines, especially for diamond exporters regarding conflict diamonds.

Who it affects

All Scheduled Commercial Banks (excluding RRBs), Exporters availing pre-shipment or post-shipment credit, Bank staff handling export credit and customer service

❓ Common questions

Regulatory timeline

Stated effective date effective July 1, 2011
Decoded by BankPulse 2026-06-19 00:51 IST
Status change: withdrawn 03 Aug 2026, 04:00 IST

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Does this Master Circular replace all previous export credit circulars?

Yes, it consolidates and updates all instructions from circulars listed in the appendices, effective from July 1, 2011.

Are Regional Rural Banks covered under this circular?

No, the circular explicitly excludes Regional Rural Banks from its scope.

What is the legal basis for this Master Circular?

It is a statutory directive issued under Sections 21 and 35A of the Banking Regulation Act, 1949.

📜 Read the original circular — full text as issued by RBI

RBI/2011-12/60
 DBOD No.DIR. (Exp).BC.04/04.02.002/2011-12 
 July 1, 2011
 10 Ashadha, 1933 (Saka) 
 All Scheduled Commercial Banks 
 (excluding RRBs) 
 Dear Sir/Madam,
 MASTER CIRCULAR ON 
 RUPEE / FOREIGN CURRENCY EXPORT CREDIT 
 & CUSTOMER SERVICE TO EXPORTERS 
 As you are aware, in order to have all current instructions on the   subject at one place, the Reserve Bank of India had issued a Master Circular DBOD.DIR(Exp.) No.06/04.02.002/2010-11 dated July 1, 2010 on the captioned subject which is now updated up to 30th June 2011. It may be noted that the Master Circular consolidates and updates all the instructions contained in the circulars listed in the Appendices, in so far they relate to providing export credit by banks to the exporters. This Master Circular also incorporates instructions contained in certain clarifications issued by RBI to banks / exporters / export organizations during the course of the year. The Master Circular has also been placed on the RBI web-site ( www.rbi.org.in . ). A copy of the revised Master Circular is enclosed.
 Yours faithfully,
 (P.R.Ravi Mohan) 
 Chief General Manager 
 Encls : As above
 Master Circular 
 RUPEE / FOREIGN CURRENCY EXPORT CREDIT 
  & CUSTOMER SERVICE TO EXPORTERS 
 CONTENTS 
 Sr.No.

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/60 · issued 01 Jul 2011. The plain-English explanation above is BankPulse’s own independent summary.

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6515&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.