External Commercial Borrowings Policy - Liberalisation

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....gory - I) banks is invited to the A. P. (DIR Series) Circular No.5 dated August 1, 2005, A. P. (DIR Series) Circular No. 4 dated August 7, 2007, A. P. (DIR Series) Circular No. 43 dated May 29, 2008 and A.P. (DIR Series) No. 16 dated September 22, 2008 relating to External Commercial Borrowings (ECB). 2. As per the extant ECB policy, Infrastructure sector is defined as (i) power, (ii) telecommun....

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....e of ECB shall come into force with immediate effect. All other aspects of the ECB policy such as USD 500 million limit per borrower, per financial year under the Automatic Route, eligible borrower, recognised lender, end-use of foreign currency expenditure for import of capital goods and overseas investments, average maturity period, prepayment, refinancing of existing ECB and reporting arrangeme....