Overseas foreign currency borrowings can be used by AD Cat I banks for foreign currency lending, subject to ECB end use rules. Authorised Dealer Category I banks may utilise funds raised from overseas foreign currency borrowings during the specified window for foreign currency lending to constituents in India, subject to the end use prescriptions applicable to External Commercial Borrowings and compliance with the Master Directions; the on lending permission subsists until maturity or repayment of the underlying borrowings.
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.
Overseas foreign currency borrowings can be used by AD Cat I banks for foreign currency lending, subject to ECB end use rules.
Authorised Dealer Category I banks may utilise funds raised from overseas foreign currency borrowings during the specified window for foreign currency lending to constituents in India, subject to the end use prescriptions applicable to External Commercial Borrowings and compliance with the Master Directions; the on lending permission subsists until maturity or repayment of the underlying borrowings.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
