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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New ECB Policy Allows NMIZ Developers to Use Approval Route for Infrastructure Projects; Effective Immediately.</h1> The circular issued on February 29, 2012, addresses the policy on External Commercial Borrowings (ECB) for infrastructure facilities within National Manufacturing Investment Zones (NMIZ). It allows developers of NMIZ to avail of ECB under the 'approval route' for infrastructure projects, aligning with existing guidelines for sectors like power, telecommunications, and urban infrastructure. This policy modification is effective immediately, while other ECB policy aspects remain unchanged. Authorized Dealer Category-I banks are instructed to inform their clients about these changes, as per the Foreign Exchange Management Act, 1999.
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