External Commercial Borrowings (ECB) Policy: Re-schedulement of ECB - Simplification of procedure.

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....egory - I (AD Category - I) banks is invited to the instructions contained in A.P. (DIR Series) Circular No.33 dated February 09, 2010 in terms of which AD Category - banks are permitted to approve changes / modifications in the drawdown / repayment schedule of the ECBs already availed, both under the approval and the automatic routes, subject to the conditions. However, any elongation / rollover ....

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....fore the maturity of the ECB. * If the lender is an overseas branch of a domestic bank, the prudential norms applicable on account of re-schedulement should be complied with. * The changes on account of re-schedulement should be reported to DSIM through revised Form 83. * The ECB should be in compliance with all applicable guidelines related to eligible borrower, recognised lender, AIC, AMP,....