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

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..... (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 more than the residual maturity of existing ECB, are exa....

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....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 even in those cases where existing ECBs were raised under the approval route subject to the amount of new ECBs being eligible to be rai....