https://www.taxtmi.com/circulars?id=11310 Bridge finance in the form of short term credit for import of capital goods by infrastructure companies is permitted under the approval route, provided the bridge finance is replaced by a long term ECB complying with all extant ECB norms and with prior Reserve Bank approval. Designated AD Category I banks must monitor end use and verify imports via Bill of Entry; Indian banks may not provide guarantees. All other ECB conditions and reporting obligations remain unchanged. en-us Fri, 23 Sep 2011 00:00:00 +0530 Mon, 26 Sep 2011 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11310 Bridge finance in the form of short term credit for import of capital goods by infrastructure companies is permitted under the approval route, provided the bridge finance is replaced by a long term ECB complying with all extant ECB norms and with prior Reserve Bank approval. Designated AD Category I banks must monitor end use and verify imports via Bill of Entry; Indian banks may not provide guarantees. All other ECB conditions and reporting obligations remain unchanged. Circulars FEMA Fri, 23 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11310