External Commercial Borrowings – Simplification of Procedure.

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..... to the Foreign Exchange Management (Borrowing or lending in foreign exchange) Regulations, 2000 , notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, amended from time to time and the A.P. (DIR Series) Circular No. 5 dated August 1, 2005, amended from time to time relating to the External Commercial Borrowings (ECB). 2. As per the extant ECB procedures, any request for change o .....

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..... the new lender is a recognized lender as per the extant ECB norms; ii. there is no change in the other terms and conditions of the ECB; and iii. the ECB is in compliance with the extant guidelines. 4. However, changes in the recognized lender in case of foreign equity holder and foreign collaborator will continue to be examined by the Reserve Bank .....

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