refinancing

As per the extant policy, eligible borrowers in the telecommunication sector are permitted to avail of ECB for the purpose of payment for spectrum allocation, under the automatic route. Keeping in view the large outlay of funds required to be paid directly to the Government within a limited period of time, it has been decided to make a one-time relaxation in the end-use conditions of the ECB policy. Full Article

Please find enclosed Circular DBOD.No.BP.BC.64/21.04.048/2009-10 dated December 1, 2009 on the above subject. In this connection, it is advised that the above guidelines issued to banks, shall mutatis mutandis apply to the select All-India Financial Institutions (AIFIs). 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

Concerned by the delay in announcement of the second economic stimulus package, the commerce ministry has asked the committee of secretaries headed by Cabinet secretary KM Chandrashekhar for speedy intervention. Full Article