External Commercial Borrowings - Parking of funds abroad

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..... unds abroad Authorised dealers are aware that corporates raising External Commercial Borrowings (ECBs) are required to bring the funds to India in terms of para 15(A) of the Guidelines on Policies & Procedures for ECBs 1999-2000 issued by Government of India. Such funds are, however, permitted, on application, to be retained abroad in a bank account with the permission of the concerned Regional O .....

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..... ents are met and any unspent balance should be repatriated to India immediately. 3. The following details of the account (in soft copy form) should be submitted to the concerned Regional Office of Reserve Bank, through the authorised dealer, within 8 days of opening of the account. i. Name of the bank and branch ii. Date of opening of account and account no. iii. Name of the borrower iv. .....

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