External commercial borrowing liberalisation raises rupee expenditure limits and increases all in cost ceilings, applying immediately to all routes. Policy liberalises external commercial borrowings by increasing Approval Route thresholds for rupee expenditure-raising limits for infrastructure borrowers and enhancing limits for other borrowers-and by raising all in cost ceilings over the applicable six month LIBOR for specified average maturity periods. These cost and limit changes apply to ECB under both Automatic and Approval Routes and take effect immediately, with other ECB conditions, per company automatic route ceilings, maturity, prepayment, refinancing and reporting requirements remaining unchanged.
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Provisions expressly mentioned in the judgment/order text.
External commercial borrowing liberalisation raises rupee expenditure limits and increases all in cost ceilings, applying immediately to all routes.
Policy liberalises external commercial borrowings by increasing Approval Route thresholds for rupee expenditure-raising limits for infrastructure borrowers and enhancing limits for other borrowers-and by raising all in cost ceilings over the applicable six month LIBOR for specified average maturity periods. These cost and limit changes apply to ECB under both Automatic and Approval Routes and take effect immediately, with other ECB conditions, per company automatic route ceilings, maturity, prepayment, refinancing and reporting requirements remaining unchanged.
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