External Commercial Borrowings policy extends credit enhancement to domestic infrastructure debt, including maturity, fee, and cost caps. Credit enhancement by eligible non-resident entities is permitted for domestic rupee denominated capital market instruments issued by infrastructure companies and RBI classified Infrastructure Finance Companies, subject to conditions: providers limited to multilateral/regional and government development institutions; minimum average maturity of seven years; no prepayment or call/put options up to seven years; guarantee fees capped at 2%; invocation and novation to eligible non-residents subject to applicable all in cost ceilings; IFCs must meet eligibility/prudential norms and fully hedge foreign currency designation; ECB reporting rules apply.
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.
External Commercial Borrowings policy extends credit enhancement to domestic infrastructure debt, including maturity, fee, and cost caps.
Credit enhancement by eligible non-resident entities is permitted for domestic rupee denominated capital market instruments issued by infrastructure companies and RBI classified Infrastructure Finance Companies, subject to conditions: providers limited to multilateral/regional and government development institutions; minimum average maturity of seven years; no prepayment or call/put options up to seven years; guarantee fees capped at 2%; invocation and novation to eligible non-residents subject to applicable all in cost ceilings; IFCs must meet eligibility/prudential norms and fully hedge foreign currency designation; ECB reporting rules apply.
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