External Commercial Borrowings (ECB) Policy

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....rcular No. 71 dated June 30, 2009 and para 2 (iv) of A.P. (DIR Series) Circular No. 19 dated December 9, 2009 relating to the External Commercial Borrowings (ECB). 2. As per the extant ECB policy, Non-Banking Finance Companies (NBFCs), which are exclusively engaged in financing of infrastructure sector, are permitted to avail of ECB from the recognized lender category including international ban....

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....itions: i) compliance with the norms prescribed in the aforesaid DNBS Circular dated February 12, 2010; ii) hedging of the currency risk in full; and iii) the total outstanding ECBs including the proposed ECB not exceeding 50 per cent of the Owned Funds. The AD Category-I bank should certify the compliance with the above conditions by the IFCs. 4. All other aspects of ECB policy such as ....