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TMI BlogExternal Commercial Borrowings – Simplification of procedure.X X X X Extracts X X X X X X X X Extracts X X X X ..... he Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, A.P. (DIR Series) Circular No. 5 dated August 1, 2005 relating to the External Commercial Borrowings (ECB), as amended from time to time and A. P. (DIR Series) Circular No.33 dated February 09, 2010. 2. As per the extant ECB procedure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omatic route, subject to ensuring the following conditions:- i. the consent of the lender for reduction in loan amount has been obtained; ii. the average maturity period of the ECB is maintained; iii. the monthly ECB-2 returns in respect of the LRN have been submitted to the Department of Statistics and Information Management (DSIM); and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iled both under the automatic and approval routes, subject to ensuring the following conditions: i. there are no changes/modifications in the repayment schedule of the ECB; ii. the average maturity period of the ECB is reduced as against the original average maturity period stated in the Form 83 at the time of obtaining the LRN; iii. such reduced ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onditions:- i. the consent of the lender has been obtained and there are no other changes in the terms and conditions of the ECB; and ii. the monthly ECB-2 returns in respect of the LRN have been submitted to DSIM. 4. The designated AD Category-I bank should ensure that the ECBs continue to comply with the extant guidelines while exercising their delegated powers ..... X X X X Extracts X X X X X X X X Extracts X X X X
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