Refinancing of external commercial borrowings now permitted at higher all-in-cost under approval route subject to existing ceiling. Borrowers may refinance or reschedule existing External Commercial Borrowings by raising a fresh ECB at a higher all-in-cost under the approval route, provided the enhanced all-in-cost does not exceed the all-in-cost ceiling prescribed by extant guidelines; the modification is effective immediately and subject to review, with other ECB policy aspects unchanged and regulatory amendments to FEMA regulations to follow.
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Provisions expressly mentioned in the judgment/order text.
Refinancing of external commercial borrowings now permitted at higher all-in-cost under approval route subject to existing ceiling.
Borrowers may refinance or reschedule existing External Commercial Borrowings by raising a fresh ECB at a higher all-in-cost under the approval route, provided the enhanced all-in-cost does not exceed the all-in-cost ceiling prescribed by extant guidelines; the modification is effective immediately and subject to review, with other ECB policy aspects unchanged and regulatory amendments to FEMA regulations to follow.
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