All-in-cost ceiling for external commercial borrowings remains extended until further review, maintaining existing ECB policy conditions. Continuation of the all-in-cost ceiling for External Commercial Borrowings is directed to remain in force until March 31, 2013, subject to review; all other ECB policy aspects remain unchanged. The amended ECB policy takes immediate effect and AD Category I banks must inform their constituents. Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act and are without prejudice to other statutory permissions.
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Provisions expressly mentioned in the judgment/order text.
All-in-cost ceiling for external commercial borrowings remains extended until further review, maintaining existing ECB policy conditions.
Continuation of the all-in-cost ceiling for External Commercial Borrowings is directed to remain in force until March 31, 2013, subject to review; all other ECB policy aspects remain unchanged. The amended ECB policy takes immediate effect and AD Category I banks must inform their constituents. Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act and are without prejudice to other statutory permissions.
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