Prepayment of External Commercial Borrowings: automatic-route prepayments from local resources now allowed without a monetary ceiling. Authorised Dealers must permit remittances for prepayment of outstanding External Commercial Borrowings under the automatic route without any limit when prepayment is made from local resources or market purchases; prepayments from EEFC balances or fresh foreign equity inflows remain permissible without restriction. All other conditions of the earlier circular continue to apply, the facility is available until further notice subject to review, and the directions are issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999.
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Prepayment of External Commercial Borrowings: automatic-route prepayments from local resources now allowed without a monetary ceiling.
Authorised Dealers must permit remittances for prepayment of outstanding External Commercial Borrowings under the automatic route without any limit when prepayment is made from local resources or market purchases; prepayments from EEFC balances or fresh foreign equity inflows remain permissible without restriction. All other conditions of the earlier circular continue to apply, the facility is available until further notice subject to review, and the directions are issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999.
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