External Commercial Borrowings (ECB) Policy – Simplification of Procedure

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..... following provisions contained in the undernoted A.P. (DIR Series) Circulars through which powers have been delegated to them to deal with cases related to change in draw-down and repayment schedules of ECBs subject to conditions stipulated therein: * Provisions contained in the paragraph 3 (a) of A.P. (DIR Series) Circular No. 33 dated February 09, 2010 * Provisions contained in paragraphs 3 .....

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..... erage maturity period and all-in-cost. * Increase in all-in-cost of ECB, irrespective of the number of occasions. 3. This measure is subject to the designated AD Category-I bank ensuring the following: * Revised average maturity period and / or all-in-cost is / are in conformity with the applicable ceilings / guidelines; and * The changes are effected during the tenure of the ECB. 4. If th .....

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..... n compliance with applicable guidelines. 6. These measures of simplification will be applicable for ECBs raised both under the automatic and approval routes. FCCBs will, however, not be covered within these provisions. 7. These changes in the terms and conditions of ECB and / or any other changes allowed by the AD Category-I banks under the powers already delegated and / or changes approved by t .....

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