External Commercial Borrowings Policy: Liberalisation

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....am / Sirs, External Commercial Borrowings Policy: Liberalisation Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the A. P. (DIR Series) Circular No.5 dated  August 1, 2005, A. P. (DIR Series) Circular No. 60 dated May 21, 2007, A. P. (DIR Series) Circular No. 4 dated August 7. 2007 and A. P. (DIR Series) Circular No. 43 dated May 29, 2008, A.P.(DIR Ser....

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....r 3G Spectrum will be considered an eligible end - use for the purpose of ECB. 5. At present, ECB proceeds are required to be parked overseas until actual requirement in India and such proceeds can be invested in the following liquid assets (a) deposits or certificate of deposit offered by banks rated not less than AA (-) by Standard and Poor / Fitch IBCA or Aa3 by Moody's; (b) deposits with ov....

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....ize and enhance the all-in-cost ceilings as under: Average Maturity Period All-in-Cost ceilings over 6 Months LIBOR*   Existing Revised Three years and up to five years 200 bps 300 bps More than five years and up to seven  years 350 bps 500 bps More than seven years 450 bps * for the respective currency of borrowing or applicable benchmark. Th....