ECB approval requirement limits large external borrowings and forbids their domestic use, with prior approval needed for rupee expenditures.
ECB policy mandates prior approval of the Reserve Bank for borrowings above the prescribed threshold and bars use of those borrowings for domestic purposes on a per-financial-year basis; smaller borrowings per company per year may be remitted into India only after prior approval for rupee expenditure. Other ECB rules remain unchanged, and borrowers with existing loan agreements and Reserve Bank loan registration numbers are exempt from these conditions.

FEMA payment compliance requires remitters to submit prescribed undertaking and CA certificate for trade-related payments.
A remitter of foreign exchange must submit a prescribed undertaking and a Chartered Accountant certificate when making payments to non-residents; this requirement covers all trade-related payments and is not limited to transactions on which tax is to be deducted at source.