External Commercial Borrowings – Prepayment

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....sed dealers are aware that prepayment of External Commercial 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 ....

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....g conditions:- i. Prepayment of ECBs falling under categories (a) & (b) above, without any limit. 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 ....

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....ormat enclosed) within 7 days of the remittance, to the Chief General Manager, Exchange Control Department, 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 ca....

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....tration No. d. Amount of loan e. Maturity of loan f. Details of prepayment, if any made earlier, (Govt./RBI approval No. & date and amount & 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 acco....