ECB window extension permits refinancing of outstanding 3G spectrum rupee loans under the approval route, subject to existing conditions. The circular affirms that initial payments for 3G spectrum may be met from Rupee resources and refinanced with long term External Commercial Borrowings under the approval route within the stipulated period; it further decides that the ECB window for refinancing outstanding 3G spectrum Rupee loans on telecom operators' books will remain open until a specified cutoff, with all other ECB policy aspects unchanged and AD Category I banks required to inform constituents.
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Provisions expressly mentioned in the judgment/order text.
ECB window extension permits refinancing of outstanding 3G spectrum rupee loans under the approval route, subject to existing conditions.
The circular affirms that initial payments for 3G spectrum may be met from Rupee resources and refinanced with long term External Commercial Borrowings under the approval route within the stipulated period; it further decides that the ECB window for refinancing outstanding 3G spectrum Rupee loans on telecom operators' books will remain open until a specified cutoff, with all other ECB policy aspects unchanged and AD Category I banks required to inform constituents.
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