https://www.taxtmi.com/circulars?id=12013 The circular raises the permitted ECB ceiling for NBFC IFCs under the automatic route as a proportion of owned funds while borrowings beyond that ceiling require Reserve Bank approval under the approval route. End use remains confined to on lending to infrastructure and other ECB conditions are unchanged. The currency risk hedging obligation for NBFC IFCs is reduced to a lower specified proportion of exposure. Authorised Dealer Category I banks must certify compliance and continue to certify leverage ratios for approval route proposals. The amendments are effective immediately under FEMA authority. en-us Mon, 07 Jan 2013 00:00:00 +0530 Tue, 08 Jan 2013 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=12013 The circular raises the permitted ECB ceiling for NBFC IFCs under the automatic route as a proportion of owned funds while borrowings beyond that ceiling require Reserve Bank approval under the approval route. End use remains confined to on lending to infrastructure and other ECB conditions are unchanged. The currency risk hedging obligation for NBFC IFCs is reduced to a lower specified proportion of exposure. Authorised Dealer Category I banks must certify compliance and continue to certify leverage ratios for approval route proposals. The amendments are effective immediately under FEMA authority. Circulars FEMA Mon, 07 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=12013