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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Updates ECB Policy: IFCs as NBFCs Can Borrow Up to 50% of Owned Funds Automatically; Beyond 50% Needs Approval.</h1> The circular addresses modifications to the External Commercial Borrowings (ECB) policy for Infrastructure Finance Companies (IFCs) classified as Non-Banking Financial Companies (NBFCs) by the Reserve Bank. IFCs can now avail ECBs up to 50% of their owned funds under the automatic route, provided they comply with existing prudential guidelines. Borrowing beyond 50% requires Reserve Bank approval. Other ECB policy aspects, such as the USD 500 million limit per company per financial year, remain unchanged. Authorized Dealer banks are instructed to ensure compliance with these norms and inform their constituents and customers accordingly. The circular is issued under the Foreign Exchange Management Act, 1999.
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