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English Release 22-July 2014
Date Month Year
  • Prime Minister's Office
  • Gujarat Governor calls on PM
  • Shri Tarun Vijay presents book to PM
  • Min of Consumer Affairs, Food & Public Distribution
  • Measures to Clear Pendency of Cases at Consumer Fora
  • Foodgrains Storage Capacity of 203.76 lakh MT to be Constructed in 19 States
  • States Requested to Ensure Implementation of Food Security Act within Next Three Months
  • Min of Defence
  • Shortage of Officers and Personnel in Army
  • Implementation of OROP
  • Amendment to the Works of Defence Act, 1903
  • Inquiry Into Accidents Involving IAF Aircrafts
  • Rafale Jet Contract
  • Suicides and Premature Retirement in the Armed Forces
  • Special Recruitment Drive for Tribals in Armed Forces
  • Accidents of IAF Aircrafts
  • Investigation into VVIP Helicopter Deal
  • Purchase of Used and Old Warships
  • New Defence Production Policy
  • Induction of INS Kamorta
  • Strengthening of Security Near the Andamans
  • M777 Howitzer Deal with BAE Systems
  • Steps to Prevent Border Infiltration
  • FDI in the Defence Sector
  • Ministry of Finance
  • Auction for Sale (Re-Issue) of Government Stocks
  • Min of Food Processing Industries
  • Storage Facilities
  • Organic Food Processing Zones
  • Incentives to Food Processing Units
  • Min of Personnel, Public Grievances & Pensions
  • Inauguration of DoPT’s Basic Leadership Skills Module and Learning Resource Centre
  • Revised Rules for Declaration of Assets by Public Servants Under Provisions of the Lokpal Act
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket decreased to US$ 104.83. per bbl on 21.07.2014
  • Min of Women and Child Development
  • Adoption guidelines being simplified to minimize delay in adoption process says Union Minister of Women and Child Development
  • Rs. 17,978 cr Spent on Schemes of Ministry of Women & Child Development in 2013-14

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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