External Commercial Borrowings (ECB) Policy - Utilization of ECB proceeds for Rupee expenditure.

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....expenditure Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 5 dated August 1, 2005 and A.P. (DIR Series) Circular No. 52 dated November 23, 2011 relating to External Commercial Borrowings. 2. As per the extant guidelines, ECB proceeds can be utilized for permissible foreign currency expenditure and Rupee expenditure. On a review, i....