External Commercial Borrowings (ECB) Policy – Relaxation in the period of parking of unutilised ECB proceeds in term deposits

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..... ds in term deposits Please refer to paragraph 12 of the Governor's Statement on Developmental and Regulatory Policies dated April 07, 2021. In this connection, attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraph 4.2 of the of Master Direction No.5 dated March 26, 2019, on "External Commercial Borrowings, Trade Credits and Structured Obligations", in terms of wh .....

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..... o. 5 dated March 26, 2019, 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 prejudice to permissions/ approvals, if any, required under any other law. Yours faithfully Ajay Kumar Misra Chief General Manager-in-Charge
Circular, Trade N .....

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