External Commercial Borrowings (ECB) Policy – Review of Hedging Provision

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..... ragraphs 2.4.2 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 and A. P. (DIR Series) Circular No. 11 dated November 06, 2018, in terms of which certain eligible borrowers raising foreign currency denominat .....

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..... ain unchanged. AD Category - I banks should bring the contents of this circular to the notice of their constituents and customers. 4. The aforesaid Master Direction No. 5 dated January 01, 2016 is being updated to reflect the changes. 5. The directions contained in this circular have been issued under section 10(4) and 11(2) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are witho .....

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