External Commercial Borrowings (ECB) Policy – Simplification of Procedure

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....horised Dealer (AD) Category-I banks is invited to the following provisions contained in the undernoted A.P. (DIR Series) Circulars through which powers have been delegated to them to deal with cases related to change in draw-down and repayment schedules of ECBs subject to conditions stipulated therein: • Provisions contained in the paragraph 3 (a) of A.P. (DIR Series) Circular No. 33....

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....of ECB (irrespective of the number of occasions) along with any changes in draw-down and repayment schedules, average maturity period and all-in-cost. • Increase in all-in-cost of ECB, irrespective of the number of occasions. 3. This measure is subject to the designated AD Category-I bank ensuring the following: • Revised average maturity period and / or all-in-cost is....

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....uly as per the applicable laws / rules after satisfying themselves that the company acquiring the ECB is an eligible borrower and ECB continues to be in compliance with applicable guidelines. 6. These measures of simplification will be applicable for ECBs raised both under the automatic and approval routes. FCCBs will, however, not be covered within these provisions. 7. These changes in the ....