Leverage ratio certification required: banks must certify IFC leverage when forwarding ECB proposals under the approval route. Authorised Dealer Category I banks must certify the leverage ratio (outside liabilities/owned funds) of Infrastructure Finance Companies seeking ECBs under the approval route when forwarding proposals to the Reserve Bank. IFCs may obtain ECBs up to fifty per cent of owned funds under the automatic route; amounts above that require approval. ECB proceeds must be for on lending to infrastructure and IFCs must fully hedge currency risk; other ECB conditions 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.
Leverage ratio certification required: banks must certify IFC leverage when forwarding ECB proposals under the approval route.
Authorised Dealer Category I banks must certify the leverage ratio (outside liabilities/owned funds) of Infrastructure Finance Companies seeking ECBs under the approval route when forwarding proposals to the Reserve Bank. IFCs may obtain ECBs up to fifty per cent of owned funds under the automatic route; amounts above that require approval. ECB proceeds must be for on lending to infrastructure and IFCs must fully hedge currency risk; other ECB conditions remain unchanged.
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