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of <h1>RBI Modifies ECB Policy: Lifts Cost Ceilings, Eases Access for Infrastructure, Services, and Township Development.</h1> The circular announces modifications to the External Commercial Borrowings (ECB) policy, effective immediately. The Reserve Bank of India (RBI) has lifted the all-in-cost ceilings for ECBs until June 30, 2009, allowing borrowers to approach the RBI under the Approval Route for costs beyond the limits. Corporates developing integrated townships can now access ECBs under the Approval Route. Non-Banking Financial Companies (NBFCs) financing infrastructure can obtain ECBs from specific institutions, with a 3:1 direct lending ratio requirement. Entities in the services sector, such as hotels and hospitals, can now avail ECBs up to USD 100 million under the Automatic Route for capital expenditure, excluding land acquisition. Other ECB policy aspects remain unchanged.
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