<h1>Revised ECB Policy: Increased All-In-Cost Ceiling, Immediate Rupee Account Credit for Rupee Expenditure, Effective Until March 2012.</h1> The External Commercial Borrowings (ECB) policy has been revised to address global financial market developments and macroeconomic conditions. The all-in-cost ceiling for ECBs has been increased, with the ceiling for borrowings of three to five years raised from 300 basis points to 350 basis points over the six-month LIBOR. Additionally, ECB proceeds intended for Rupee expenditure in India must be immediately credited to Rupee accounts with authorized banks. These changes are effective immediately, with the all-in-cost ceiling enhancement applicable until March 31, 2012, subject to review. ECB funds cannot be used for capital markets, real estate, or inter-corporate lending.