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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New ECB Policy: Ceilings Revised, Township ECBs Extended, FCCB Buyback Stopped, NBFCs & Telecoms Get New Options.</h1> The circular addresses updates to the External Commercial Borrowings (ECB) policy. Effective January 1, 2010, the relaxation on all-in-cost ceilings under the approval route is withdrawn, with specified ceilings based on loan maturity. The policy allowing corporates in integrated township development to avail ECBs is extended until December 31, 2010. The facility for Indian companies to buy back Foreign Currency Convertible Bonds (FCCBs) is discontinued from January 1, 2010. Non-Banking Finance Companies (NBFCs) involved in infrastructure financing can now obtain ECBs from international banks. Additionally, ECBs are permitted for spectrum payments in the telecommunication sector. Other ECB policy aspects remain unchanged.
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