External Commercial Borrowings eligibility widened for infrastructure and certain NBFCs with strict maturity and hedging conditions. The ECB framework expands Track I eligibility to infrastructure companies, NBFC-IFCs, NBFC-AFCs, Holding Companies and CICs subject to a minimum average maturity of five years and 100 per cent hedging; proceeds use is restricted to Track I permitted ends, with NBFC-IFCs/AFCs limited to infrastructure financing and Holding Companies/CICs limited to on-lending to infrastructure SPVs. Designated AD Category-I banks must verify hedging compliance and report via ECB 2 returns, and may refinance legacy ECBs under delegated powers if all-in-cost is reduced and residual maturity is not shortened.
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Provisions expressly mentioned in the judgment/order text.
External Commercial Borrowings eligibility widened for infrastructure and certain NBFCs with strict maturity and hedging conditions.
The ECB framework expands Track I eligibility to infrastructure companies, NBFC-IFCs, NBFC-AFCs, Holding Companies and CICs subject to a minimum average maturity of five years and 100 per cent hedging; proceeds use is restricted to Track I permitted ends, with NBFC-IFCs/AFCs limited to infrastructure financing and Holding Companies/CICs limited to on-lending to infrastructure SPVs. Designated AD Category-I banks must verify hedging compliance and report via ECB 2 returns, and may refinance legacy ECBs under delegated powers if all-in-cost is reduced and residual maturity is not shortened.
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