External commercial borrowings policy revised: two access routes with maturity, lender, end-use and reporting conditions. The circular revises the Reserve Bank's External Commercial Borrowings framework by codifying two access routes-Automatic and Approval-and prescribing eligible borrowers, recognised lender credentials including minimum foreign equity holding thresholds, minimum average maturities, all-in-cost ceilings, permitted end-uses, security and parking requirements, prepayment and refinancing conditions, and mandatory reporting and disclosure obligations; FCCBs and domestic structured obligations are addressed within the same regulatory framework.
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External commercial borrowings policy revised: two access routes with maturity, lender, end-use and reporting conditions.
The circular revises the Reserve Bank's External Commercial Borrowings framework by codifying two access routes-Automatic and Approval-and prescribing eligible borrowers, recognised lender credentials including minimum foreign equity holding thresholds, minimum average maturities, all-in-cost ceilings, permitted end-uses, security and parking requirements, prepayment and refinancing conditions, and mandatory reporting and disclosure obligations; FCCBs and domestic structured obligations are addressed within the same regulatory framework.
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