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of <h1>ECB Policy Update: NBFC-IFCs Can Now Borrow Up to 75% of Owned Funds; Currency Hedging Requirement Reduced to 75.</h1> The circular outlines changes to the External Commercial Borrowings (ECB) policy for Non-Banking Financial Company - Infrastructure Finance Companies (NBFC-IFCs). The ECB limit under the automatic route is increased from 50% to 75% of owned funds, with amounts beyond this requiring Reserve Bank approval. The currency risk hedging requirement is reduced from 100% to 75%. Authorized Dealer Category-I banks must ensure compliance with these norms and certify leverage ratios for ECB applications. The policy changes are effective immediately, with all other ECB policy aspects remaining unchanged. The circular is issued under the Foreign Exchange Management Act, 1999.
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