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of <h1>Foreign Exchange Management Act Governs External Commercial Borrowings with Specific Approval, Maturity, and Reporting Requirements.</h1> External Commercial Borrowings (ECB) under FEMA regulations require specific approval unless explicitly permitted. Governed by the Foreign Exchange Management Act, 1999, ECBs involve loans from non-resident entities to eligible Indian entities, adhering to parameters like maturity, end-uses, and cost ceilings. The Reserve Bank of India provides directives for conducting foreign exchange transactions. ECBs can be denominated in foreign currencies or Indian Rupees, with specific guidelines for borrowers, lenders, maturity periods, costs, and end-use restrictions. Reporting requirements include obtaining a Loan Registration Number and submitting periodic reports. The framework allows flexibility for startups, entities under investigation, and those in restructuring, while ensuring compliance with FEMA guidelines.
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