External Commercial Borrowings liberalisation permits hotels hospitals and software firms approval route borrowing for import of capital goods. External Commercial Borrowings for the services sector are permitted for hotels, hospitals and software companies to finance import of capital goods under the Approval Route while all other ECB policy conditions remain unchanged; existing trade credit provisions for imports of capital goods continue, the amendment is effective immediately and regulatory amendments will follow, with Authorised Dealer Category I banks required to notify constituents and the measure issued under the statutory foreign exchange powers.
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Provisions expressly mentioned in the judgment/order text.
External Commercial Borrowings liberalisation permits hotels hospitals and software firms approval route borrowing for import of capital goods.
External Commercial Borrowings for the services sector are permitted for hotels, hospitals and software companies to finance import of capital goods under the Approval Route while all other ECB policy conditions remain unchanged; existing trade credit provisions for imports of capital goods continue, the amendment is effective immediately and regulatory amendments will follow, with Authorised Dealer Category I banks required to notify constituents and the measure issued under the statutory foreign exchange powers.
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