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of <h1>New ECB Policy: Borrowers Can Park Proceeds in Term Deposits with Banks for Up to Six Months.</h1> The circular addresses changes to the External Commercial Borrowings (ECB) policy concerning the parking of ECB proceeds. Authorized Dealer Category-I banks are informed that eligible ECB borrowers can now park ECB proceeds in term deposits with these banks for up to six months before using them for permitted end uses. Conditions include compliance with existing guidelines, ensuring deposits are unencumbered, and maintaining them in the borrower's name. This change aims to provide borrowers with greater flexibility in managing ECB proceeds. The revised policy is effective immediately and subject to review, while other ECB policy aspects remain unchanged.
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