Refinancing under automatic route permitted when fresh ECB lowers all-in-cost and meets specified compliance conditions. AD Category - I banks are authorized to approve refinancing of existing External Commercial Borrowings under the automatic route where the fresh ECB's Average Maturity Period exceeds the residual maturity of the original loan, subject to conditions: both loans comply with guidelines; fresh ECB has lower all-in-cost; existing lender's consent; refinancing before original maturity; borrower not on RBI default/caution list or under DoE investigation; overseas branches/subsidiaries of Indian banks not permitted to extend refinancing; and requisite reporting (e.g., revised Form 83) is completed.
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.
Refinancing under automatic route permitted when fresh ECB lowers all-in-cost and meets specified compliance conditions.
AD Category - I banks are authorized to approve refinancing of existing External Commercial Borrowings under the automatic route where the fresh ECB's Average Maturity Period exceeds the residual maturity of the original loan, subject to conditions: both loans comply with guidelines; fresh ECB has lower all-in-cost; existing lender's consent; refinancing before original maturity; borrower not on RBI default/caution list or under DoE investigation; overseas branches/subsidiaries of Indian banks not permitted to extend refinancing; and requisite reporting (e.g., revised Form 83) is completed.
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