External Commercial Borrowings – Prepayment

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ercial Borrowings (ECBs) require prior approval of the Reserve Bank and the Bank considers such applications under the following categories: * Where the amount of prepayment of ECB is fully matched by way of inflow of foreign exchange in form of foreign equity in the applicant company. * Where the prepayment of ECB is being made out of the balance held in the EEFC account of the borrower. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t. ii. Prepayment of an amount not exceeding USD 50 million for ECBs falling under categories (c) & (d) above, iii. Prepayment up to USD 50 million in aggregate would be available under (ii) above [each for category (c) & (d)] during the currency of the scheme. 3. Applications for prepayment of amount exceeding USD 50 million falling under categories (c) & (d) above and all prepayments of EC....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ECB Division, Central Office, Reserve Bank of India, Fort, Mumbai - 400 001. 6. It is clarified that the facility under the Automatic Route for prepayment of ECBs as contained in this circular, will be available upto March 31st, 2003. A circular will be issued on or before that date in case the scheme is extended for a further period. 7. Authorised Dealers may bring the contents of the circula....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....mount & date of prepayment) g. Loan outstanding 4. Details of the current remittance for prepayment a. Prepayment category (please 4 whichever applicable). i. Out of inflow of matching foreign equity. ii. Out of balances held in EEFC account of the borrower. iii. 10% of outstanding ECB once during currency of ECB iv. Residual maturity up to one year. b. Date of Remittance c. Amount o....