External Commercial Borrowings Policy - RBI extends the relaxation in all–in-cost ceilings under the approval route

Reserve Bank of India has decided on January 2, 2009, to dispense with the requirement of all-in-cost ceilings on ECB until June 30, 2009. Accordingly, eligible borrowers, proposing to avail of ECB beyond the permissible all-in-cost ceilings specified above may approach the Reserve Bank under the Approval Route. This relaxation in all-in-cost ceiling will be reviewed in June 2009. ...Read more

As announced in Annual Policy Statement 2009-10 and considering the continuing pressure on credit spreads in the international markets, RBI has decided to extend the relaxation in all–in-cost ceilings, under the approval route, until December 31, 2009. This relaxation will be reviewed in December 2009.

The modifications to the ECB guidelines shall come into force with immediate effect. All other aspects of ECB policy, such as USD 500 million limit per company per financial year under the Automatic Route, eligible borrower, recognised lender, end-use, average maturity period, prepayment, refinancing of existing ECB and reporting arrangements remain unchanged.

ECB Guidelines revision in January 2009 ...Click here
ECB Guidelines revision in October 2008 ...Click here
ECB Guidelines revision in September 2008 ...Click here
ECB Guidelines revision in July 2008 ...Click here
Borrowers in services sectors eligible to avail ECB ...Click here
Special section on External Commercial Borrowings ...Click here





Web banknetindia.com

      Banking | Technology | Finance | Advertise | Terms of use | Disclaimer | Contact us
                         © Banknet India | All rights reserved worldwide.