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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.
Go back to main page of External Commercial Borrowings (ECB) Section