External Commercial Borrowings restriction bars ECBs from overseas branches or subsidiaries of domestic banks for rupee loan repayment. Eligible Indian companies are prohibited from raising External Commercial Borrowings from overseas branches or subsidiaries of Indian banks to refinance or repay Rupee loans raised from the domestic banking system, covering take-out financing, infrastructure loan repayments, spectrum-related refinancing, and general Rupee loan repayment. The prohibition implements an earlier DBOD position, is effective immediately, leaves other ECB policy aspects unchanged, and requires Authorised Dealer banks to notify constituents; directions are issued under the Foreign Exchange Management Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
External Commercial Borrowings restriction bars ECBs from overseas branches or subsidiaries of domestic banks for rupee loan repayment.
Eligible Indian companies are prohibited from raising External Commercial Borrowings from overseas branches or subsidiaries of Indian banks to refinance or repay Rupee loans raised from the domestic banking system, covering take-out financing, infrastructure loan repayments, spectrum-related refinancing, and general Rupee loan repayment. The prohibition implements an earlier DBOD position, is effective immediately, leaves other ECB policy aspects unchanged, and requires Authorised Dealer banks to notify constituents; directions are issued under the Foreign Exchange Management Act.
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