External Commercial Borrowings (ECB) Policy - Liberalisation

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..... to paragraphs 2.4.5, 2.4.6 and 2.5 of Master Direction No.5 dated January 1, 2016 on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers , as amended from time to time. 2. Under the extant policy, ECB can be raised under tracks I and III for working capital purposes if such ECB is raised from .....

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..... billion equivalent and the said facility will come into effect from the date of this Circular. All other provisions of the ECB policy shall remain unchanged. AD Category - I banks should bring the contents of this circular to the notice of their constituents and customers. 5. The aforesaid Master Direction No. 5 dated January 01, 2016 is being updated to reflect the above changes. 6. The d .....

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