External Commercial Borrowings Policy: Liberalisation

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..... lar No. 5 dated August 1, 2005, A. P. (DIR Series) Circular No. 60 dated May 21, 2007 and A. P. (DIR Series) Circular No. 4 dated August 7, 2007 relating to External Commercial Borrowings (ECB). 2. Based on a review, it has been decided to modify some aspects of the ECB policy as indicated below: (a) At present, borrowers proposing to avail ECB up to USD 20 million for Rupee expenditure f .....

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..... * for the respective currency of credit or applicable benchmark The above changes will apply to ECB both under the automatic route and the approval route. 3. This amendment to ECB guidelines will come into force with immediate effect. All other aspects of ECB policy such as USD 500 million limit per company per year under the Automatic Route, eligible borrower, recognised le .....

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