Parking of unutilised ECB proceeds extended as one time relief, permitting term deposit parking until March 2022. Unutilised ECB proceeds drawn down on or before March 1, 2020 may be parked in term deposits with Authorized Dealer Category I banks for an additional period up to March 1, 2022 as a one time relaxation; all other ECB provisions remain unchanged and AD Category I banks must notify their constituents, with the Master Direction to 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.
Parking of unutilised ECB proceeds extended as one time relief, permitting term deposit parking until March 2022.
Unutilised ECB proceeds drawn down on or before March 1, 2020 may be parked in term deposits with Authorized Dealer Category I banks for an additional period up to March 1, 2022 as a one time relaxation; all other ECB provisions remain unchanged and AD Category I banks must notify their constituents, with the Master Direction to be updated accordingly.
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