https://www.taxtmi.com/news?id=3112 Power companies may use a specified portion of fresh External Commercial Borrowings (ECBs) to refinance existing domestic rupee loans under the approval route, provided the remaining portion of the ECB proceeds is utilised for investment in a new project. The change aims to increase access to lower-cost foreign funds for the power sector while maintaining approval-route oversight. Implementation is subject to a Reserve Bank of India circular/notification to give effect to the Budget announcement. en-us Wed, 18 Apr 2012 18:42:52 +0530 Wed, 18 Apr 2012 18:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3112 Power companies may use a specified portion of fresh External Commercial Borrowings (ECBs) to refinance existing domestic rupee loans under the approval route, provided the remaining portion of the ECB proceeds is utilised for investment in a new project. The change aims to increase access to lower-cost foreign funds for the power sector while maintaining approval-route oversight. Implementation is subject to a Reserve Bank of India circular/notification to give effect to the Budget announcement. News - Wed, 18 Apr 2012 18:42:52 +0530 https://www.taxtmi.com/news?id=3112