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of <h1>RBI Grants General Permission for ECB and Royalty Conversion to Equity, Simplifies Procedures for Foreign Investment.</h1> The circular addresses the conversion of External Commercial Borrowings (ECBs) and lumpsum fees/royalties into equity. The Reserve Bank of India (RBI) grants general permission for such conversions, subject to conditions like compliance with sectoral caps, pricing guidelines, and other regulations. The circular outlines reporting requirements for companies converting ECBs into equity, specifying forms and timelines for full or partial conversions. It also discusses the conversion of lumpsum fees/royalties into equity. The document emphasizes procedural simplifications to attract foreign investment, shifting certain approvals from government to RBI jurisdiction, ensuring adherence to sectoral caps and pricing guidelines.
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