ECB end-use restriction bars real estate borrowing; all-in-cost ceilings for longer maturities lowered effective immediately. Utilisation of ECB proceeds is not permissible in real estate; the exemption for development of integrated townships is withdrawn. All-in-cost ceilings are reduced: three to five year maturities revised to 150 basis points and maturities over five years revised to 250 basis points over six-month LIBOR (or applicable benchmark). The changes apply immediately to ECBs under both the automatic and approval routes, are subject to review, and regulatory amendments will follow.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
ECB end-use restriction bars real estate borrowing; all-in-cost ceilings for longer maturities lowered effective immediately.
Utilisation of ECB proceeds is not permissible in real estate; the exemption for development of integrated townships is withdrawn. All-in-cost ceilings are reduced: three to five year maturities revised to 150 basis points and maturities over five years revised to 250 basis points over six-month LIBOR (or applicable benchmark). The changes apply immediately to ECBs under both the automatic and approval routes, are subject to review, and regulatory amendments will follow.
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