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    <title>External Commercial Borrowings (ECB) by Multi-State Co-operative Societies</title>
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      <description>ECB by multi state co operative societies engaged in manufacturing are allowable under the Approval Route provided the society is financially solvent, submits an up to date audited balance sheet, and the proposal complies with all ECB parameters such as recognised lender, permitted end use, average maturity period and all in cost ceiling as specified in the ECB guidelines.</description>
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