External Commercial Borrowing reporting formats updated; revised ECB 1 and ECB 2 now mandated and effective immediately. The Reserve Bank has revised the External Commercial Borrowing reporting formats in the Master Direction by substituting Part V - Annex I and Part V - Annex II with revised Form ECB 1 and Form ECB 2, respectively. The new forms require detailed borrower and lender information, borrowing terms, end use, interest and fee particulars, receipts, utilisation, debt servicing, hedging and LRN closure details. Authorised Persons must notify customers, and the directions-issued under the Foreign Exchange Management Act-are effective immediately and subject to any other statutory permissions.
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External Commercial Borrowing reporting formats updated; revised ECB 1 and ECB 2 now mandated and effective immediately.
The Reserve Bank has revised the External Commercial Borrowing reporting formats in the Master Direction by substituting Part V - Annex I and Part V - Annex II with revised Form ECB 1 and Form ECB 2, respectively. The new forms require detailed borrower and lender information, borrowing terms, end use, interest and fee particulars, receipts, utilisation, debt servicing, hedging and LRN closure details. Authorised Persons must notify customers, and the directions-issued under the Foreign Exchange Management Act-are effective immediately and subject to any other statutory permissions.
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