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External Commercial Borrowings (ECB) Revised framework

FEMA - 56 - Dated:- 30-3-2016 - RBI//2015-16/349 A.P. (DIR Series) Circular No.56 March 30, 2016 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) - Revised framework Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.32 dated November 30, 2015 and paragraph no. 1.8, 2.2, 2.4.1, 2.4.2, 2.4.5, 2.4.6, 2.5, 2.16 and 2.16.xiii of Master Direction No.5 dated January 1, 2016 on External Commercial Borrow .....

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Non-Banking Financial Companies -Infrastructure Finance Companies (NBFC-IFCs), NBFCs-Asset Finance Companies (NBFC-AFCs), Holding Companies and Core Investment Companies (CICs) will also be eligible to raise ECB under Track I of the framework with minimum average maturity period of 5 years, subject to 100 per cent hedging. ii. For the purpose of ECB, Exploration, Mining and Refinery sectors which are not included in the Harmonised list of infrastructure sector but were eligible to take ECB unde .....

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oceeds only for on-lending to infrastructure Special Purpose Vehicles (SPVs). v. The individual limit of borrowing under the automatic route for aforesaid companies shall be as applicable to the companies in the infrastructure sector (currently USD 750 million). vi. Companies in infrastructure sector, Holding Companies and CICs will continue to have the facility of raising ECB under Track II of the ECB framework subject to the conditionalities prescribed thereof. 3. The companies added under Tra .....

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