Refinancing of ECB at lower all-in-cost – Simplification of procedure

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....Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 5 dated August 01, 2005 as amended from time to time in terms of which refinancing of existing ECB by raising fresh ECB at lower all-in-cost is permitted subject to the condition that the outstanding maturity of the original loan is maintained. The cases, where the Average Maturity Period (AMP) of the fresh ECB is mo....

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....ult/Caution List of RBI and should not be under the investigation of the Directorate of Enforcement (DoE); • Overseas branches/subsidiaries of Indian banks will not be permitted to extend ECB for refinancing an existing ECB; and • All requirements in respect of reporting arrangements like filing of revised Form 83, etc. are followed. 3. This facility will be available ....