External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) - hedging facilities for non-resident entities.

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....ian Rupees (INR) - hedging facilities for non-resident entities Attention of Authorized Dealers Category - I (AD Category - I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 [Notification No. FEMA 25/RB-2000 dated May 3, 2000], as amended from time to time. 2. In terms of A.P. (Dir Series) Circular No. 27 dated ....

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....ve Contracts) Regulations, 2000] are being notified separately. 4. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers. 5. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act 1999 (42 of 1999) and are without prejudice to permissions/approvals, if any, requ....

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....on (scanned copies would be acceptable), on a pre-deal basis to enable the AD bank in India to satisfy itself that there is an underlying ECB transaction, and details of his overseas banker, address, etc. The following undertakings also need to be taken from the customer - o That the same underlying exposure has not been hedged with any other AD Category- I bank/s in India. o If the underlyi....