Refinancing of External Commercial Borrowings

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..... ent on Developmental and Regulatory Policies issued along with the Fifth Bi-monthly Monetary Policy Statement for 2017-18. In terms of the extant provisions in paragraphs 2.15 and 2.16 (xiii) of Master Direction No.5 dated January 1, 2016 on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers , as .....

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..... d. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers. 4. The aforesaid Master Direction No. 5 dated January 01, 2016 is being updated to reflect the changes. 5. The directions contained in this circular have been issued under section 10(4) and 11(2) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without .....

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