EXTERNAL COMMERCIAL BORROWINGS

Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to the A.P. (DIR Series) Circular No. 46 dated January 2, 2009, A.P. (DIR Series) Circular No. 64 dated April 28, 2009 and A.P. (DIR Series) Circular No. 71 dated June 30, 2009 relating to External Commercial Borrowings (ECB). Full Article

RBI/2008-09/460 A.P. (DIR Series) Circular No. 64 Dated : April 28, 2009 Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular No. 46 dated January 2, 2009  relating to External Commercial Borrowings (ECB) and in terms of Para 2 of the circular, it was decided [...] Full Article

The Reserve Bank of India (RBI) is considering a proposal to allow companies another six months to buy back or prepay their Foreign Currency Convertible Bonds (FCCBs). The deadline for the original buyback scheme ends on March 31. Of the 156 companies that raised money through FCCBs — which are a mix between a debt [...] Full Article

Government has focussed its attention on countering the impact of the global recession on India's economic growth. On the monetary side, the RBI has sought to pump sufficient liquidity into the banking system to enable bank credit to meet the expanded requirements of the economy keeping in mind the contraction in credit from non-bank sources. Banks have been provided adequate liquidity through a series of reductions in the CRR and additional flexibility in meeting the SL.. Full Article

Reserve Bank of India has issued A. P. (DIR series) circular no. 26 dated October 22, 2008, to modify some aspects of the ECB policy as indicated below- Henceforth, ECB up to USD 500 million per borrower per financial year would be permitted for Rupee expenditure and / or foreign currency expenditure for permissible end - uses under the Automatic Route. Accordingly, the requirement of minimum average maturity period of seven years for ECB more than USD 100 million for Ru.. Full Article