External Commercial Borrowings (ECB) Policy – Structured Obligations for infrastructure sector

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....ECB) Policy - Structured Obligations for infrastructure sector Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 40 dated March 02, 2010 relating to External Commercial Borrowings (ECB) Policy - Structured Obligations. 2. As per extant guidelines, credit enhancement is permitted to be provided by multilateral / regional financial ins....

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....e, where "infrastructure" is as defined under the extant guidelines on ECB and by the Infrastructure Finance Companies (IFCs), which have been classified as such by the Reserve Bank. 4.  Credit enhancement by all eligible non-resident entities will henceforth be permitted under the automatic route and no prior approval will be required from the Reserve Bank. All the other terms and condition....