External Commercial Borrowings (ECB) Policy – Liberalisation of definition of Infrastructure Sector

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....efinition of Infrastructure Sector Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the A.P. (DIR Series) Circular No. 5 dated August 1, 2005, A.P. (DIR Series) Circular No. 20 dated October 8, 2008 and A.P. (DIR Series) Circular No. 38 dated March 02, 2010 relating to External Commercial Borrowings (ECB). 2. The existing definition of infrastructure sector f....

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....rastructure sector and sub-sectors for the purpose of ECB include: (a) Energy which will include (i) electricity generation, (ii) electricity transmission, (iii) electricity distribution, (iv) oil pipelines, (v) oil/gas/liquefied natural gas (LNG) storage facility (includes strategic storage of crude oil) and (vi) gas pipelines (includes city gas distribution network); (b) Communication whic....

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....), (v) irrigation (dams, channels, embankments, etc.) and (vi) storm water drainage system; (e) (i) mining, (ii) exploration and (iii) refining; (f) Social and commercial infrastructure which will include (i) hospitals (capital stock and includes medical colleges and para medical training institutes), (ii) Hotel Sector which will include hotels with fixed capital investment of Rs. 200 crore ....

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....are subject to review based on the experience gained in this regard. 6. Necessary amendments to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 dated May 3, 2000 have been issued vide Notification No. FEMA 281/2013-RB dated July 19, 2013 notified vide G.S.R. No. 627(E) dated September 12, 2013. 7. AD Category - I banks may bring the contents of th....