External Commercial Borrowings (ECB) Policy – Liberalisation and Rationalisation.

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..... s is invited 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 and A.P. (DIR Series) Circular No. 5 dated August 1, 2005, as amended from time to time, relating to External Commercial Borrowings. 2. On a review of the policy related to ECB and keeping in view the announcements made in th .....

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..... Highways ECBs would also be allowed for capital expenditure under the automatic route for the purpose of maintenance and operations of toll systems for roads and highways provided they form part of the original project. 3. The modifications to the ECB policy will come into force with immediate effect. All other aspects of the ECB policy, such as, maximum permissible limit under the automatic rou .....

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