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of <h1>RBI Relaxes ECB Policy for 2G Spectrum Auction Winners: Refinance Rupee Loans, Bridge Finance Allowed with Conditions.</h1> The circular issued by the Reserve Bank of India outlines relaxations in the External Commercial Borrowings (ECB) policy for successful bidders in the 2G spectrum auction. Eligible telecommunication sector borrowers are allowed to refinance Rupee loans with long-term ECBs under the automatic route, provided conditions such as raising the ECB within 18 months and monitoring by designated banks are met. Additionally, there are relaxations on the ECB liability-equity ratio and shareholding percentage, allowing bridge finance facilities for upfront payments. These relaxations are specific to the 2G spectrum auction, while other ECB policy aspects remain unchanged.
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