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of <h1>RBI Eases ECB Policy: Manufacturing Firms Can Raise Up to $50M with Shorter Maturity; Banks Get New Roles.</h1> The circular addresses the liberalization of the External Commercial Borrowings (ECB) policy by the Reserve Bank of India. Key changes include allowing manufacturing sector companies to raise ECBs up to USD 50 million with a reduced minimum average maturity period of one year, down from three years. Additionally, Indian banks are now permitted to act as arrangers, underwriters, market makers, and traders for Rupee denominated bonds issued overseas, adhering to prudential norms. Other ECB policy provisions remain unchanged, and updates will be reflected in the Master Direction No. 5. The circular is issued under the Foreign Exchange Management Act, 1999.
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