The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, has issued a significant clarification aimed at resolving operational difficulties faced by exporters and banks in availing interest subvention benefits under the Export Promotion Mission (EPM) – Niryat Protsahan scheme.
The Trade Notice addresses industry concerns relating to the generation and validation of Unique Identification Numbers (UINs) for pre-shipment and post-shipment export credit under the Interest Subvention Support mechanism. The DGFT acknowledged that several lending institutions and exporters encountered practical difficulties during the initial implementation phase of the revised system.
According to the DGFT, representations were received highlighting issues where Unique Document Identification Numbers (UDINs) had been generated under the earlier Interest Equalisation Scheme (IES), but the actual export credit was disbursed on or after 2 January 2026 under the new EPM framework. In several other cases, loans were disbursed after 2 January 2026 before exporters could complete the UIN generation process.
After examining the matter, the DGFT decided to provide a special compliance window in the interest of ease of doing business. The authority has now permitted exporters and banks to generate UINs retrospectively in eligible cases relating to FY 2025-26.
Under the revised guidelines, interest subvention claims can now be submitted by lending banks even if the UIN was generated after the loan disbursal date, provided two conditions are satisfied. First, the eligible export credit must have been disbursed on or after 2 January 2026. Second, the UIN must be generated on or before 31 May 2026.
Importantly, the DGFT clarified that in such cases the interest subvention benefit would remain available from the actual date of loan disbursal and not merely from the date on which the UIN was generated.
The Trade Notice further directs banks to ensure that eligible exporters receive the interest subvention benefit, including for the period beginning 2 January 2026, on a priority basis.
For FY 2026-27 onwards, the DGFT has introduced a stricter but more structured compliance mechanism. A UIN generated within 15 days from the original disbursal date of eligible export credit will now be considered valid for claiming interest subvention support. In such situations as well, the benefit will be admissible from the original date of disbursal.
The DGFT has also clarified that where a borrower changes the lending bank, a fresh UIN reflecting revised bank details will be mandatory. Portability of UINs between banks will not be permitted.
Further, the applicable rate of interest subvention will continue to be the rate prevailing on the date of loan disbursal. Banks have also been instructed to ensure that claims are filed against the specific financial year in which the export credit disbursal took place.
The DGFT has directed all scheduled commercial banks and participating lending institutions to implement the revised amendments immediately and uniformly across the country.
Notification Details
Trade Notice No. 03/2026-27
Date: 13/05/2026
