TaxTMI 
TaxTMI 
External Commercial Borrowings (ECB) Policy - Liberalisation
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....cial Borrowings (ECB) Policy - Liberalisation Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the A.P. (DIR Series) Circular No. 26 dated October 22, 2008 relating to External Commercial Borrowings (ECB). 2. On a review, it has been decided to modify some aspects of the ECB policy as indicated below : (i) As per extant ECB policy, the all-in-cost ceilings for E....
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....been decided to permit corporates, engaged in the development of integrated township, as defined in Press Note 3 (2002 Series) dated January 04, 2002, issued by DIPP, Ministry of Commerce & Industry, Government of India to avail of ECB under the Approval Route. Integrated township, as defined above, includes housing, commercial premises, hotels, resorts, city and regional level urban infrastructur....
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.... decided to allow NBFCs, which are exclusively involved in financing of the infrastructure sector, to avail of ECBs from multilateral / regional financial institutions and Government owned development financial institutions for on-lending to the borrowers in the infrastructure sector under the Approval route. While considering the applications, Reserve Bank will take into account the aggregate com....
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....iture for permissible end-use. The proceeds of the ECBs should not be used for acquisition of land. 3. The modifications to the ECB guidelines will come into force with immediate effect. All other aspects of ECB policy, such as USD 500 million limit per company per financial year under the Automatic Route, eligible borrower, recognised lender, end-use, all-in-cost ceiling, average maturity perio....