<h1>External Commercial Borrowings in Indian Rupees may be extended by recognised non-resident lenders through rupee swaps with authorised banks.</h1> Recognised non-resident lenders may provide External Commercial Borrowings (ECB) in Indian Rupees by mobilising rupee resources through swaps with an Authorised Dealer Category I bank, relaxing the prior restriction that permitted rupee ECB only from foreign equity holders and thereby expanding permissible lender sources for rupee-denominated external loans.