External Commercial Borrowings (ECB) Policy – Liberalisation Measures

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..... ion No.5 on External Commercial Borrowings, Trade Credits and Structured Obligations, dated March 26, 2019 (as amended from time to time), in terms of which eligible ECB borrowers are allowed to raise ECB up to USD 750 million or equivalent per financial year under the automatic route, and paragraph 2.1.vi. ibid, wherein the all-in-cost ceiling for ECBs has been specified. 2. As announced in p .....

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..... d Master Direction No. 5, is being updated to reflect these changes. 5. Necessary amendments to the relevant regulations have been made through the Foreign Exchange Management (Borrowing and Lending) (Amendment) Regulations, 2022, notified vide notification No. FEMA.3(R)(3)/2022-RB dated July 29, 2022 . 6. The directions contained in this circular have been issued under section 10(4) and .....

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