UIN to be generated for each Bank under Interest Equalization Scheme
Trade Notice No. 04/2023-24 Dated: 21.04.2023
Subject: Amendment under Interest Equalization Scheme in respect of UIN- reg.
Attention of Trade and Industry is drawn towards Trade Notice no. 03/2023-24 dated 20.04.2023, wherein the eligible Interest Equalization beneficiaries w.e.f 01.05.2023 were required to submit an Acknowledgement consisting of UIN which would be associated with a particular bank only for a ONE-TIME disbursement, also applicable where the credit is rolled over.
- The amendments stated under the above-mentioned Trade Notice are deferred in view of the operational challenges expressed by the beneficiaries of the scheme and the banks. The revised guidelines are as follows:
- An Acknowledgement consisting of UIN, valid for a financial year shall be unique to a specific bank. If a scheme beneficiary desires to take advantage of the benefits of the scheme from multiple banks, a new UIN must be provided for each bank.
- This issues with the approval of the Competent Authority.
