<h1>RBI Updates ECB Policy: $500M Limit, No Minimum Maturity for Infrastructure, Includes 3G Spectrum Payments.</h1> The External Commercial Borrowing (ECB) policy has been revised to align with the changing macroeconomic conditions and market needs. The Reserve Bank of India has updated the policy, allowing ECBs up to USD 500 million per borrower annually for specific uses without a minimum maturity period for infrastructure projects. The policy now includes 3G Spectrum license payments as an eligible use. Borrowers can choose to keep funds offshore or remit them to India, but not for investments in capital markets or real estate. The cost ceilings for ECBs have been increased, and monitoring of unhedged foreign exchange exposures for SMEs will be implemented. Other aspects of the policy remain unchanged.