Borrowers in services sectors eligible to avail ECB

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..... Borrowers in services sectors eligible to avail ECB
News and Press Release
Dated:- 1-6-2008

The External Commercial Borrowing (ECB) policy is regularly reviewed by the Government in cons .....

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..... ultation with Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and lessons of experience .....

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..... . Consequent upon such a review, it has been decided to modify some aspects of the ECB policy as indicated below: At present, borrowers in the services sector are not eligible to avail ECB under th .....

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..... e automatic route. It has been decided that henceforth borrowers in the services sector viz hotels, hospitals and software companies may avail ECB upto US$ 100 million for import of capital goods unde .....

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..... r the approval route. These amendments in the ECB Policy will come into force on the date of Notification of Regulations/directions issued by the Reserve Bank in this regard under the Foreign Exchan .....

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..... ge Management Act, 1999. BSC/KW/MP/135/08
News - Press release - PIB .....

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