External Commercial Borrowings policy: infrastructure definition expanded to include mining, exploration and refining, effective immediately. The definition of the Infrastructure sector for External Commercial Borrowings (ECB) is expanded to include mining, exploration and refining with immediate effect; all other ECB policy parameters (Automatic Route conditions, eligible borrowers and recognised lenders, permitted end-uses, maturity, prepayment/refinancing and reporting) remain unchanged. Amendments to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 will be separately notified and AD Category I banks must inform their constituents. Directions are issued under the Foreign Exchange Management Act, 1999.
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External Commercial Borrowings policy: infrastructure definition expanded to include mining, exploration and refining, effective immediately.
The definition of the Infrastructure sector for External Commercial Borrowings (ECB) is expanded to include mining, exploration and refining with immediate effect; all other ECB policy parameters (Automatic Route conditions, eligible borrowers and recognised lenders, permitted end-uses, maturity, prepayment/refinancing and reporting) remain unchanged. Amendments to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 will be separately notified and AD Category I banks must inform their constituents. Directions are issued under the Foreign Exchange Management Act, 1999.
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