External Commercial Borrowings (ECB) Policy - Refinance / Repayment of Rupee loans raised from domestic banking system

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....stem Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 28 dated January 25, 2010, A.P. (DIR Series) Circular No. 04 dated July 22, 2010, A.P. (DIR Series) Circular No. 25 dated September 23, 2011, A.P. (DIR Series) Circular No. 111 dated April 20, 2012, A.P. (DIR Series) Circular No. 134 dated June 25, 2012, A.P. (DIR Series) Circular No.....

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....t permitted. 3. The issue has been examined and it has been decided that eligible Indian companies will not be permitted to raise ECB from overseas branches / subsidiaries of Indian banks for the purpose of refinance / repayment of the Rupee loans raised from the domestic banking system in respect of the following: a. Scheme of take-out financing: Reference A.P. (DIR Series) Circular No. 04 date....