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of <h1>RBI Raises Prepayment Limit for External Commercial Borrowings to $500M for Authorized Dealer Banks Under FEMA 1999.</h1> The circular issued by the Reserve Bank of India addresses Category-I Authorized Dealer Banks regarding the prepayment of External Commercial Borrowings (ECB). The permissible limit for prepayment of ECB has been increased from USD 400 million to USD 500 million, allowing banks to approve prepayments up to this amount without prior Reserve Bank approval, provided the minimum average maturity period is met. These changes are effective immediately and subject to review. Banks are instructed to inform their clients of this update, which is issued under the Foreign Exchange Management Act, 1999.
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