External Commercial Borrowings Policy - Liberalisation

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..... Category - I) banks is invited to the A. P. (DIR Series) Circular No.5 dated August 1, 2005, A. P. (DIR Series) Circular No. 60 dated May 21, 2007, A. P. (DIR Series) Circular No. 4 dated August 7, 2007 and A. P. (DIR Series) Circular No. 43 dated May 29, 2008 relating to External Commercial Borrowings (ECB). 2. Based on a review, it has been decided to modify some aspects of the ECB policy as in .....

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..... gs over 6 Months LIBOR* Existing Revised Three years and up to five years 200 bps 200 bps More than five years and up to seven years 350 bps 350 bps More than seven years 350 bps 450 bps * for the respective currency of borrowing or applicable benchmark 3. The amendments to the ECB guidelines will come into force with immediate effect. All other aspects of the ECB policy such as USD .....

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