External Commercial Borrowings – Simplification of procedure.

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..... ement (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000 and the A.P. (DIR Series) Circular No. 5 dated August 1, 2005 relating to the External Commercial Borrowings (ECB), as amended from time to time. 2. As per the extant ECB procedures any request for cancellation of Loan Registration Number (LRN) given by the Departmen .....

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..... monthly ECB-2 returns till date in respect of the LRN have been submitted to DSIM. b) Change in the end-use of ECB proceeds The designated AD Category-I bank may approve requests from ECB borrowers for change in end-use in respect of ECBs availed under the automatic route, subject to the following conditions:- i. the proposed end-use is permissible under the automatic route as per the extant E .....

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..... he automatic route, eligible borrower, recognized lender, end-use, all-in-cost ceiling, average maturity period, prepayment, refinancing of existing ECB and reporting arrangements shall remain unchanged. 5. AD Category -I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 6. The directions contained in this circular have been issued under s .....

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