TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>External Commercial Borrowings Policy Eases Approval Process for Banks, Retains Key Limits and Reporting Rules.</h1> The circular announces the liberalization of the External Commercial Borrowings (ECB) policy, delegating certain approval powers to Category-I Authorized Dealer banks. These banks can now approve modifications in drawdown and repayment schedules, changes in borrowing currency, changes of the designated AD bank, and changes in the borrower's company name, provided specific conditions are met. These modifications aim to simplify existing procedures while maintaining the ECB's average maturity period and ensuring the currency is freely convertible. Other ECB policy aspects, such as borrowing limits and reporting requirements, remain unchanged. The changes are effective immediately.
TaxTMI 
TaxTMI 
