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of <h1>Rationalization of Form-83 for ECBs: New Submission Requirements Effective July 1, 2012, Under FEMA 1999.</h1> The circular addresses Authorized Dealer Category-I banks regarding the rationalization of Form-83 for External Commercial Borrowings (ECB) to align with liberalization measures. Effective July 1, 2012, borrowers must submit the revised Form-83 to obtain a Loan Registration Number. The circular includes an illustration for calculating the average maturity period. Existing conditions for ECBs, such as eligibility, recognized lenders, end-use, and reporting, remain unchanged. Banks are instructed to inform their clients of these updates. The directions are issued under the Foreign Exchange Management Act, 1999, without affecting other legal permissions or approvals.
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