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of <h1>Foreign Currency Exchangeable Bond proceeds must be retained and deployed overseas following External Commercial Borrowing guidelines</h1> The proceeds from Foreign Currency Exchangeable Bonds must be retained and deployed overseas following the same policy framework that governs External Commercial Borrowings. This provision establishes regulatory consistency by applying existing ECB guidelines to FCEB proceeds, ensuring uniform treatment of foreign currency fundraising mechanisms. The requirement mandates overseas retention and deployment rather than domestic repatriation, aligning with broader foreign exchange management policies under the regulatory framework.
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