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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Eases External Commercial Borrowing Procedures; Delegates Approval Authority to Authorized Dealer Banks for Specific Requests.</h1> The circular issued by the Reserve Bank of India (RBI) simplifies procedures for External Commercial Borrowings (ECBs). It delegates authority to designated Authorized Dealer Category-I banks to approve certain requests from ECB borrowers, such as reducing loan amounts, modifying drawdown schedules, and reducing all-in-costs, subject to specific conditions. These conditions include maintaining the average maturity period, obtaining lender consent, and submitting required returns. The changes aim to streamline the process while ensuring compliance with existing guidelines. Other aspects of the ECB policy remain unchanged, and banks are instructed to inform their clients of these updates.
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