External Commercial Borrowings - Parking of funds abroad

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....ir, External Commercial Borrowings - Parking of funds abroad Authorised dealers are aware that corporates raising External Commercial Borrowings (ECBs) are required to bring the funds to India in terms of para 15(A) of the Guidelines on Policies & Procedures for ECBs 1999-2000 issued by Government of India. Such funds are, however, permitted, on application, to be retained abroad in a bank a....

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....d. The account should be closed as soon as the forex requirements are met and any unspent balance should be repatriated to India immediately. 3. The following details of the account (in soft copy form) should be submitted to the concerned Regional Office of Reserve Bank, through the authorised dealer, within 8 days of opening of the account. i. Name of the bank and branch ii. Date of open....