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of <h1>RBI to Withdraw 2012 Master Circular on External Commercial Borrowings and Trade Credits; New Version Effective July 1, 2013.</h1> The Master Circular on External Commercial Borrowings and Trade Credits, dated July 2, 2012, consolidates existing instructions under the Foreign Exchange Management Act, 1999, specifically regarding borrowing or lending in foreign exchange. It is addressed to all Category-I Authorised Dealer Banks and compiles various circulars and notifications on the subject into a single document. This circular is set to be withdrawn and replaced by an updated version on July 1, 2013.
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