External commercial borrowings for civil aviation: working capital facility period extended and policy conditions unchanged; banks must notify customers. The scheme permitting External Commercial Borrowings for working capital in the civil aviation sector is extended so eligible borrowers may continue to avail ECBs for working capital until December 31, 2013; all other ECB policy aspects remain unchanged. Authorised Dealer Category I banks must notify their constituents and customers of the circular, and the directions are issued under statutory powers without prejudice to permissions or approvals under other laws.
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External commercial borrowings for civil aviation: working capital facility period extended and policy conditions unchanged; banks must notify customers.
The scheme permitting External Commercial Borrowings for working capital in the civil aviation sector is extended so eligible borrowers may continue to avail ECBs for working capital until December 31, 2013; all other ECB policy aspects remain unchanged. Authorised Dealer Category I banks must notify their constituents and customers of the circular, and the directions are issued under statutory powers without prejudice to permissions or approvals under other laws.
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