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English Release 27-January 2015
Date Month Year
  • President's Secretariat
  • President meets participants of Republic Day Parade – 2015
  • President of India condoles the passing away of RK Laxman
  • Prime Minister's Office
  • English Rendering of Transcript of the special episode of Mann ki Baat: PM Shri Narendra Modi and US President Shri Barack Obama share their thoughts on Radio
  • Transcript of the special episode of "Mann ki Baat": PM Shri Narendra Modi and US President Shri Barack Obama share their thoughts on Radio
  • PM and President Obama to share their thoughts together on Mann ki Baat today
  • Min of Agriculture
  • Union Agriculture Minister holds discussion with State Agriculture Ministers on Draft Farm Income Insurance Scheme
  • Minister for Agriculture, Fisheries & Forests, Fiji calls on Shri Radha Mohan Singh Today
  • Concerted Efforts Needed to Produce Clean Spices at Competitive Prices says Radha Mohan Singh
  • Min of Chemicals and Fertilizers
  • Data about the supply and availability of Urea in the country
  • Min of Commerce & Industry
  • Global Exhibition on Services to be held in April in Pragati Maidan
  • Min of Culture
  • Union Minister of Culture and Tourism condoles the passing away of eminent cartoonist R.K. Laxman
  • Ministry of Finance
  • FM: Investors Showing Huge Curiosity and Interest in India; We Can’t Afford to Miss this Opportunity; Ordinarily Everything is Going in our Favour Including Better Growth Prospects, Good Reserves, Fiscal Deficit and Cad Under Control; Calls for Non Adversarial Tax Administration
  • Min of Home Affairs
  • Influential persons on motivational tour from J&K meets Rajnath Singh
  • Min of Mines
  • Mineral Production during November 2014
  • Min of Personnel, Public Grievances & Pensions
  • Kiran Mazumdar Shaw presents Indian Biotechnology roadmap to Dr. Jitendra Singh
  • Min of Petroleum & Natural Gas
  • Meeting of French Ambassador with the Petroleum Minister
  • Global crude oil price of Indian Basket was US$ 45.17 per bbl on 26.01.2015
  • Min of Urban Development
  • US and India to formulate smart city action plans in three months

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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