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of <h1>RBI Updates ECB and Trade Credit Rules Under FEMA for 2023: Key Changes for Borrowers and Lenders Explained.</h1> The Master Direction on External Commercial Borrowings (ECB), Trade Credits, and Structured Obligations, updated as of December 22, 2023, supersedes previous directions. It outlines the regulatory framework under the Foreign Exchange Management Act (FEMA), 1999, governing ECBs and Trade Credits. The Reserve Bank of India (RBI) issues directions to authorized dealers to ensure compliance with these regulations. The document details various aspects such as eligible borrowers, recognized lenders, maturity periods, costs, and reporting requirements. It also addresses special dispensations for specific sectors, procedures for raising ECBs, and compliance responsibilities, ensuring streamlined foreign exchange transactions.
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