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External Commercial Borrowings (ECB) Extension and conversion

FEMA - 10 - Dated:- 20-10-2016 - RBI/2016-17/92 A.P. (DIR Series) Circular No. 10 October 20, 2016 To All Category - I Authorised Dealer Banks Madam/Sir, External Commercial Borrowings (ECB) - Extension and conversion Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to paragraph No. C.14, F.18 and F.19 of Annex to A.P. (DIR Series) Circular No.32 dated November 30, 2015 and paragraph No. 2.10 and 2.16 of Master Direction No.5 dated January 1, 2016 on External Commercial .....

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in-cost are in conformity with applicable ceilings/ norms. To simplify the procedure relating to ECB, it has been decided to delegate the powers to designated AD Category-I banks to approve requests from borrowers for extension of matured but unpaid ECB, subject to the following conditions: i) No additional cost is incurred; ii) Lender s consent is available; iii) Reporting requirements are fulfilled. 3. Further, powers are also delegated to designated AD Category - I bank to approve cases of co .....

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