Refinancing of external commercial borrowings: overseas bank branches may refinance eligible corporates and PSUs subject to specified conditions. Overseas branches and subsidiaries of Indian banks may refinance External Commercial Borrowings of highly rated corporates and Navratna/Maharatna PSUs provided the outstanding maturity is not reduced and the all-in-cost of the fresh ECB is lower than the existing ECB; partial refinancing is permitted on the same conditions. Other ECB policy provisions remain unchanged and the Master Direction will be updated accordingly.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Refinancing of external commercial borrowings: overseas bank branches may refinance eligible corporates and PSUs subject to specified conditions.
Overseas branches and subsidiaries of Indian banks may refinance External Commercial Borrowings of highly rated corporates and Navratna/Maharatna PSUs provided the outstanding maturity is not reduced and the all-in-cost of the fresh ECB is lower than the existing ECB; partial refinancing is permitted on the same conditions. Other ECB policy provisions remain unchanged and the Master Direction will be updated accordingly.
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