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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>NGOs in Microfinance Can Access Up to $5M Annually in External Commercial Borrowings Under Automatic Route.</h1> Non-Government Organizations (NGOs) engaged in microfinance activities can now access External Commercial Borrowings (ECB) up to USD 5 million annually under the Automatic Route as per the 2005-06 Union Budget announcement. Eligible NGOs must have a satisfactory borrowing history with a scheduled bank and obtain a due diligence certificate. ECB funds must be used for microfinance activities, and lenders must meet specific due diligence criteria. The ECB amount is capped at USD 5 million to minimize systemic risk, and all ECB parameters must be adhered to. These changes take effect immediately and are subject to periodic review.
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