External Commercial Borrowings (ECB) by Services Sector -Liberalization

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..... A. P. (DIR Series) Circular No. 5 dated August 1, 2005 relating to External Commercial Borrowings (ECB) and Notification No. FEMA 3/2000-RB dated May 3, 2000, as amended from time to time. 2. Under the extant ECB guidelines, borrowers in the services sector are not eligible to avail ECB under the Automatic Route. It has been decided, in consultation with the Government of India, to allow entiti .....

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..... y 3, 2000 are being issued separately. 6. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 7. The directions contained in this circular have been issued under sections 10(4) and 11 (1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions/approvals, if any, required under any ot .....

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