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of <h1>ECB Policy Update: Increased Borrowing Limits, New Telecom Uses, and Relaxed Maturity for Infrastructure Loans.</h1> The circular announces modifications to the External Commercial Borrowings (ECB) policy, allowing ECB up to USD 500 million per borrower annually for Rupee or foreign currency expenditures under the Automatic Route. The seven-year maturity requirement for infrastructure sector borrowings over USD 100 million is removed. Telecom sector developments, including 3G Spectrum license payments, are now eligible ECB uses. Borrowers can now keep ECB funds offshore, with Indian bank subsidiaries, or remit them to India. All-in-cost ceilings are increased due to international liquidity conditions. Monitoring of SMEs' unhedged foreign exchange exposures is introduced. Other ECB policy aspects remain unchanged.
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