External Commercial Borrowings – Crystallisation of Liability

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....- Crystallisation of Liability Corporates in India, at times, raise External Commercial Borrowings (ECBs) against a guarantee/letter of comfort from a bank in India. In certain cases the loan liability of the corporates gets devolved on banks. 2. With a view to providing greater freedom and flexibility to banks in their fund management, it has been decided to grant permission to banks to crystal....