External Commercial Borrowings (ECB) for the low cost affordable housing projects

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....ks is invited to A.P. (DIR Series) Circular No. 61 dated December 17, 2012 on the captioned subject in terms of which ECB for low cost affordable housing projects is allowed as a permissible end-use under the approval route. 2. The policy regarding ECB for the low cost affordable housing projects has been reviewed and it has been decided to modify the guidelines contained in the aforesaid A.P. (D....

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....of by developers and builders shall be swapped into Rupees for the entire maturity on fully hedged basis. 3. Issue of fixation of spread for on-lending by National Housing bank (NHB): Interest rate spread to be charged by National Housing Bank (NHB) may be decided by NHB taking into account cost and other relevant factors. NHB shall ensure that interest rate spread for HFCs for on-lending to pro....