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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New ECB Rules for NBFCs: Infrastructure Finance Companies Must Comply with Conditions for Approval Route.</h1> The circular addresses the External Commercial Borrowings (ECB) policy, highlighting changes for Non-Banking Finance Companies (NBFCs) focused on infrastructure financing. A new category, Infrastructure Finance Companies (IFCs), has been established. Proposals for ECBs by IFCs will be considered under the approval route, provided they comply with specific conditions, including adherence to guidelines, full currency risk hedging, and maintaining ECBs within 50% of owned funds. Other ECB policy aspects remain unchanged. Authorized Dealer Category-I banks are instructed to inform their clients and ensure compliance, as per the Foreign Exchange Management Act, 1999.
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