Reporting under Foreign Exchange Management Act: revised ECB reporting forms (ECB 1, ECB 2) mandated, with immediate effect.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Revised reporting formats for External Commercial Borrowing have been prescribed: Part V Annex I and Annex II of the Master Direction are substituted with revised Form ECB 1 and Form ECB 2 reflecting the amended ECB framework. The forms capture borrower and lender details, loan registration, receipt, utilisation, debt servicing, hedging and closure of LRN information; available ECB limit and end use, security and interest rate particulars are included. The directions implement the procedural reporting changes consequent to the Foreign Exchange Management (Borrowing and Lending) amendment and are issued under sections 10(4), 11(1) and 11(2) of FEMA, with immediate effect.....