TMI BlogExternal Commercial Borrowings (ECB) Policy Repayment of Rupee loans and/or fresh Rupee capital expenditure – USD 10 billion SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... fresh Rupee capital expenditure USD 10 billion Scheme Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 134 dated June 25, 2012 , A.P. (DIR Series) Circular No. 26 dated September 11, 2012 and A.P.(DIR) Circular No.78 dated January 21, 2013 on the captioned scheme. 2. As per the extant guidelines, Indian companies in the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by Indian companies from domestic banks for overseas investment in JV/WOS, in addition to Capital Expenditure ; (b) ECB can be availed of within the scheme based on the higher of 75 per cent of the average foreign exchange earnings realized during the past three financial years and / or 75 per cent of the assessment made about the average of foreign exchange earnings potential for the next thre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... immediate effect and is subject to review based on the experience gained in this regard. 6. AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers. 7. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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