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<h1>External commercial borrowings and trade credits consolidated rules specify eligibility, recognised lenders, amounts, maturities, and automatic route.</h1> This Master Circular consolidates RBI instructions under the Foreign Exchange Management framework on external commercial borrowings and trade credits for residents, specifying eligibility criteria, recognised lenders, amount and maturity parameters and classification under the automatic route, with underlying circulars listed in an appendix and consolidation effective up to January 5, 2012.