External Commercial Borrowings – Simplification of Procedure.

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....Category-I) banks is invited to the Foreign Exchange Management (Borrowing or lending in foreign exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, amended from time to time and the A.P. (DIR Series) Circular No. 5 dated August 1, 2005, amended from time to time relating to the External Commercial Borrowings (ECB). 2. As per the extant ECB procedures, ....

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....nditions:- •          i.            the new lender is a recognized lender as per the extant ECB norms; •        ii.            there is no change in the other terms and conditions of the ECB; an....