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English Release 28-July 2014
Date Month Year
  • President's Secretariat
  • President congratulates medal winners in Commonwealth Games
  • Vice President's Secretariat
  • Vice President Greets Citizens On Id-Ul-Fitr
  • Prime Minister's Office
  • Foreign Minister of Uganda calls on PM
  • Election Commission
  • Bye-elections to the State Legislative Council of Andhra Pradesh and Maharashtra by the Members of Legislative Assembly
  • Min of Agriculture
  • Rashtriya Gokul Mission Aims to Conserve and Develop Indigenous Breeds
  • Min of Defence
  • IAF Receives the 6th C-17 Globemaster III in the Presence of Hon’ble Defence Minister Shri Arun Jaitley
  • BEL-Bangalore Complex Certified for ISO 27001
  • Min of Environment and Forests
  • Advertising campaign to be launched to popularize Science Express- Biodiversity Special- Prakash Javadekar
  • Ministry of Finance
  • Auction for sale (Re-Issue) of Government Stock
  • Min of Health and Family Welfare
  • “Mass awareness required on simple steps to control diarrhoea”
  • Min of Home Affairs
  • Union Home Minister reviews Disaster Management and Border Management Divisions
  • Min of Personnel, Public Grievances & Pensions
  • Special Class Railway Apprentices’ Examination, 2014
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket increased marginally to US$ 106.01 per bbl on 25.07.2014
  • Min of Shipping
  • Kanika Sands Transshipment Zone
  • Min of Textiles
  • Textiles Vision Document Projects Textiles Export to Touch US $ 300 Billion by the Year 2024-25
  • Min of Urban Development
  • Bio-metric attendance system soon for employees of urban ministries
  • Min of Women and Child Development
  • The Number of Beneficiaries Covered under ICPS on the Rise
  • Total of 3924 Children placed in In-Country adoption during 2013-14
  • Min of Youth Affairs & Sports
  • India wins 5 Medals on Day 4 of the Commonwealth Games 2014

Previous Date

 
Ministry of Finance07-August, 2007 18:49 IST
ECB Policy Modified

The External Commercial Borrowing (ECB) policy is constantly reviewed by the Government in consultation 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 the lessons of experience.

Based on such review, it has been decided to modulate the capital inflows through ECB by modifying some aspects of the policy as indicted below:

(i)                   Henceforth, ECB more than USD 20 million per borrowing company would be permitted only for foreign currency expenditure for permissible end-uses of ECB. Accordingly, borrowers raising ECB more than USD 20 million shall park the ECB proceeds overseas for use as foreign currency expenditure for permissible end-uses. The above modifications would be applicable to ECB exceeding USD 20 million per financial year both under the Automatic Route and under the Approval Route.

(ii)                 ECB up to USD 20 million per borrowing company would be permitted for foreign currency expenditure for permissible end-uses under the Automatic Route and these funds shall be parked overseas and not remitted to India. Borrowers proposing to avail ECB up to USD 20 million for rupee expenditure for permissible end-uses would require prior approval of the Reserve Bank under the Approval Route. However, such  funds shall be continued to be parked overseas until actual requirement in India.

(iii)                All other aspects of ECB policy such as USD 500 million limit per company per year under the Automatic Route, eligible borrower, recognised lender, average maturity period, all-in-cost-ceiling, prepayment, refinancing of existing ECB and reporting arrangements remain unchanged.

(iv)                These conditions will not apply to borrowers who have already entered into loan agreement and obtained loan registration numbers from the Reserve Bank. Borrowers who have taken verifiable and effective steps wherein the loan agreement has been entered into to avail of ECB in the previous dispensation, and not obtained the loan registration number, may apply to the Reserve Bank through their Authorised Dealer.

(v)                  The above amendment in ECB policy will come into force with immediate effect.

RP/GN-333/07


(Release ID :29674)

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