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of <h1>RBI Revises ECB Guidelines: Withdraws Real Estate Use, Lowers All-in-Cost Ceilings for Different Maturities Effective Immediately.</h1> The Reserve Bank of India has revised the guidelines for External Commercial Borrowings (ECB), affecting end-use and all-in-cost ceilings. The exemption allowing ECB proceeds for the development of integrated townships is withdrawn, prohibiting their use in real estate entirely. Additionally, the all-in-cost ceilings over the 6-month LIBOR for ECBs have been reduced to 150 basis points for maturities between three to five years, and to 250 basis points for maturities over five years. These changes apply immediately to both automatic and approval routes, with amendments to relevant regulations forthcoming.
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