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of <h1>RBI Maintains Enhanced Cost Ceiling for External Commercial Borrowings Due to Borrower Challenges; Review Set for Sept 2012.</h1> The Reserve Bank of India (RBI) has decided to maintain the enhanced all-in-cost ceiling for External Commercial Borrowings (ECBs) due to challenges faced by borrowers in raising funds within the previous limits. For ECBs with an average maturity of three to five years, the ceiling is set at 6-month LIBOR plus 350 basis points, and for those exceeding five years, it is 500 basis points. These rates are applicable until September 30, 2012, with a subsequent review planned. The circular also applies to trade credit, and all other ECB policy aspects remain unchanged. Authorized banks are instructed to inform their clients accordingly.
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