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Banking > ECB > Details



REFINANCING THE EXISTING FOREIGN CURRENCY LOAN

Refinancing of outstanding amounts under existing loans by raising fresh loans at lower costs may also be permitted on a case-to-case basis, subject to the condition that the outstanding maturity of the original loan is maintained. Rolling over of ECB will not be permitted.

A corporate borrowing overseas for financing its Rupee-related expenditure and swapping its external commercial borrowings with another corporate, which requires foreign currency funds, will not be permitted.
 




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