Master Circular on External Commercial Borrowings and Trade Credits - FEMA - 07/2009-10 - RBI-27

RBI/2009-10/27 Master Circular No. 07/2009-10 July 1, 2009 To, All Banks Authorised to Deal in Foreign Exchange Madam / Sir, Master Circular on External Commercial Borrowings and Trade Credits External Commercial Borrowings and Trade Credits availed of by residents are governed by clause (d) of sub-section 3 of section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 3 / 2000-RB,viz., Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations 2000, dated May 3, 2000, as amended from time to time. 2. This Master Circular consolidates all existing instructions on the subject of "External Commercial Borrowings and Trade Credits" at one place. The list of underlying circulars / notifications, consolidated in this Master Circular, is furnished in Appendix. 3. This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1, 2010 and will be replaced by an updated Master Circular on the subject. Yours faithfully, (Salim Gangadharan) Chief General Manager-in-Charge Click here to download Master Circular