External Commercial Borrowings (ECB) Policy – Structured Obligations

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..... (DIR Series) Circular No. 40 dated March 02, 2010 and A.P. (DIR Series) Circular No. 28 dated September 26, 2011 pertaining to External Commercial Borrowings (ECB) Policy (Structured Obligations). 2. As per the extant guidelines, credit enhancement is permitted to be provided by multilateral / regional financial institutions, Government owned development financial institutions, direct/indirect fo .....

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..... owever, would not be permissible for such capital market instruments up to an average maturity period of 3 years. All the other terms and conditions mentioned in para 4 (iv), (vi) to (viii) of A.P. (DIR Series) Circular No. 40 dated March 02, 2010 will remain unchanged. 4. On invocation of such credit enhancement, if the guarantor meets the liability and if the same is permissible to be repaid in .....

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