https://www.taxtmi.com/circulars?id=8191 Permits take-out finance through ECB under the approval route to refinance domestic rupee loans for new infrastructure projects in specified sectors, subject to RBI approval and conditions: a tripartite agreement with a scheduled take-out within three years of scheduled commercial operation date; minimum average maturity of seven years; compliance by domestic banks with prudential norms; fee to overseas lender capped at 100 basis points until take-out; on take-out the residual loan is treated as ECB in a convertible foreign currency and must meet ECB norms; guarantees by domestic banks/FIs and any post take-out obligations on domestic banks are prohibited; prescribed reporting must be followed. en-us Thu, 22 Jul 2010 00:00:00 +0530 Thu, 22 Jul 2010 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8191 Permits take-out finance through ECB under the approval route to refinance domestic rupee loans for new infrastructure projects in specified sectors, subject to RBI approval and conditions: a tripartite agreement with a scheduled take-out within three years of scheduled commercial operation date; minimum average maturity of seven years; compliance by domestic banks with prudential norms; fee to overseas lender capped at 100 basis points until take-out; on take-out the residual loan is treated as ECB in a convertible foreign currency and must meet ECB norms; guarantees by domestic banks/FIs and any post take-out obligations on domestic banks are prohibited; prescribed reporting must be followed. Circulars FEMA Thu, 22 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8191