External Commercial Borrowings in Renminbi allowed for infrastructure companies under approval route, subject to annual cap and conditions. Indian infrastructure companies are permitted to raise External Commercial Borrowings (ECB) in Renminbi (RMB) under the approval route subject to an annual cap and review. Reserve Bank approvals are valid for three months; the loan agreement must be executed within that period and Form 83 filed for Loan Registration Number within seven days of signing or approval will be cancelled. Designated AD Category I banks may open RMB Nostro accounts, must monitor end use, cannot provide guarantees, and all other ECB conditions and reporting requirements remain unchanged.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
External Commercial Borrowings in Renminbi allowed for infrastructure companies under approval route, subject to annual cap and conditions.
Indian infrastructure companies are permitted to raise External Commercial Borrowings (ECB) in Renminbi (RMB) under the approval route subject to an annual cap and review. Reserve Bank approvals are valid for three months; the loan agreement must be executed within that period and Form 83 filed for Loan Registration Number within seven days of signing or approval will be cancelled. Designated AD Category I banks may open RMB Nostro accounts, must monitor end use, cannot provide guarantees, and all other ECB conditions and reporting requirements remain unchanged.
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