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of <h1>RBI Updates ECB Policy: MRO Activities Now Classified as Airport Infrastructure in Transport Sector.</h1> The circular issued by the Reserve Bank of India informs all Category-I Authorised Dealer banks about the liberalization of the External Commercial Borrowings (ECB) policy concerning the infrastructure sector. Specifically, 'Maintenance, Repairs and Overhaul' (MRO) activities are now classified as part of airport infrastructure within the transport sector. This change aligns with the updated Harmonised Master List of Infrastructure sub-sectors. All other aspects of the ECB policy remain unchanged. Banks are instructed to inform their clients and customers about this update. The circular is issued under the Foreign Exchange Management Act, 1999.
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