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          FEMA

          Where can one get the details of extant External Commercial Borrowings (ECB) and Trade Credits (TC) framework?

          External Commercial Borrowings (ECB) and Trade Credits - As on Jun 26, 2023

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          External Commercial Borrowings and Trade Credits framework guidance available; prior facilities must comply with original applicable guidelines. Master Direction No. 5 on External Commercial Borrowings, Trade Credits and Structured Obligations dated March 26, 2019 is the primary reference for the extant ECB and TC framework, and ECBs and TCs raised under prior frameworks must continue to comply with the guidelines applicable at the time they were availed.
                          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 and Trade Credits framework guidance available; prior facilities must comply with original applicable guidelines.

                                Master Direction No. 5 on External Commercial Borrowings, Trade Credits and Structured Obligations dated March 26, 2019 is the primary reference for the extant ECB and TC framework, and ECBs and TCs raised under prior frameworks must continue to comply with the guidelines applicable at the time they were availed.


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