9911796707
TMI BlogExternal Commercial Borrowings – Simplification of procedure.X X X X Extracts X X X X X X X X Extracts X X X X ..... gement (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, A.P. (DIR Series) Circular No. 5 dated August 1, 2005 relating to the External Commercial Borrowings (ECB), as amended from time to time and A. P. (DIR Series) Circular No.33 dated February 09, 2010. 2. As per the extant ECB procedures, requests for reduction in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... following conditions:- * i. the consent of the lender for reduction in loan amount has been obtained; * ii. the average maturity period of the ECB is maintained; * iii. the monthly ECB-2 returns in respect of the LRN have been submitted to the Department of Statistics and Information Management (DSIM); and * iv. there is no change in the other terms and conditions of the ECB. b) Changes/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are no changes/modifications in the repayment schedule of the ECB; ii. the average maturity period of the ECB is reduced as against the original average maturity period stated in the Form 83 at the time of obtaining the LRN; iii. such reduced average maturity period complies with the stipulated minimum average maturity period as per the extant ECB guidelines; iv. the change in all-in-cost i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RN have been submitted to DSIM. 4. The designated AD Category-I bank should ensure that the ECBs continue to comply with the extant guidelines while exercising their delegated powers and changes are promptly reported to the Department of Statistics and Information Management (DSIM), Reserve Bank of India in Form 83. 5. The above modifications to the ECB guidelines will come into force with imme ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
