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TMI BlogExternal Commercial Borrowings (ECB) – Repayment of Rupee loansX X X X Extracts X X X X X X X X Extracts X X X X ..... nvited 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 , as amended from time to time , A.P. (DIR Series) Circular No. 25 dated September 23, 2011 and A.P. (DIR Series) Circular No. 111 dated April 20, 2012 relating to relaxation of ECB norms for Infrastructure and Power sector. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pital expenditure. 3. The overall ceiling for such ECBs as in para 2 above shall be USD 10 (ten) billion. The maximum permissible ECB that can be availed of by an individual company will be limited to 50 per cent of the average annual export earnings realised during the past three financial years.TheECBs will be allowed to companies based on the foreign exchange earnings and its ability to servi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m Indian markets and the liability arising out of ECB is extinguished only out of the foreign exchange earnings of the borrowing company. 5. The designated AD - Category I bank shall monitor the end-use of funds and bank(s) in India will not be permitted to provide any form of guarantee(s). All other conditions of ECB, such as recognized lender, all-in-cost, average maturity, prepayment, refinan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. Related Press Release RBI announces Further Liberalisation Measures for Capital Account Transactions Yours faithfully, (Rashmi Fauzdar) Chief General Manager - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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