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Fema / RBI - Hitherto, Authorised Dealers Category – I Banks (AD) were allowed to permit pledge of shares held by the Promoters as security for External Commercial Borrowings (ECB) availed by the Borrowing Resident Investee Company subject to prescribed conditions. As a measure of liberalisation and simplifications, the Reserve Bank of India (RBI) h...
Read MoreFema / RBI - 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 sour...
Read MoreFema / RBI - Presenting the General Budget 2012-13 in LokSabha here today, ShriPranab Mukherjee, Finance Minister announced various majors for mitigating shortage of housing for low income groups. The Finance Minister proposed allowing External Commercial Borrowings (ECB) for low cost affordable housing projects and setting-up of a Credit Guarantee Tr...
Read MoreFema / RBI - With a view to rationalising the present arrangements relating to foreign portfolio investments by Foreign Institutional Investors (FIIs)/ Non Resident Indians (NRIs) and other foreign investments like Foreign Venture Capital Investor (FVCI) and Private Equity entities etc., the Government has decided to set up a working group to look at ...
Read MoreFema / RBI - Those exercising the option include Mahindra & Mahindra, Reliance Communications, Tulip Telecom, Moser Baer, Jubilant Organosys, Radico Khaitan, Hotel Leela, Pidilite Industries and Uflex. Together, these firms have bought back bonds worth $240 million (around Rs 1,200 crore) at a discount of 30 to 50 per cent on the face value....
Read MoreFema / RBI - 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 A...
Read MoreRBI/2011 -12/169 A. P. (DIR Series) Circular No. 11 - (07/09/2011) - As a measure of simplification of the existing procedures, it has been decided to delegate powers to the designated AD Category-I banks to approve the request from the ECB borrowers with respect to change in the recognized lender when the original lender is an international bank or a multilateral fi...
Read MoreA.P. (DIR Series) Circular No. 8 - (12/08/2010) - Hitherto, Indian corporates in the services sectors viz., hotels, hospitals and software were allowed to avail ECB upto USD 100 million per financial year under the automatic route for permissible end-uses. ECB beyond USD 100 million was arguably not permissible even under the approval route....
Read MoreRBI/2009-10/456 A. P. (DIR Series) Circular No. 51 - (11/05/2010) - India's central bank on Tuesday eased oversees borrowing rules for Infrastructure Finance Companies (IFC). The IFC's will not need the central bank's nod to raise overseas funds equivalent to or less than half of their own funds, the Reserve Bank of India (RBI) said in a statement....
Read MoreRBI/2009-10/335 , A.P. (DIR Series) Circular No. 40 - (02/03/2010) - Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Notification No.FEMA 29/2000-RB dated September 26, 2000 viz. Payment to person resident outside India on invocation of guarantee, A.P. (DIR Series) Circular No. 28 dated March 30, 2001 and A.P. (DIR Series) Circular N...
Read MoreRBI/2009-10/ 292 A.P. (DIR Series) Circular No. 28 - (25/01/2010) - 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 o...
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RBI/2011 -12/169 A. P. (DIR Series) Circular No. 11 - (07/09/2011) -
A.P. (DIR Series) Circular No. 8 - (12/08/2010) -
RBI/2009-10/456 A. P. (DIR Series) Circular No. 51 - (11/05/2010) -
RBI/2009-10/335 , A.P. (DIR Series) Circular No. 40 - (02/03/2010) -
RBI/2009-10/ 292 A.P. (DIR Series) Circular No. 28 - (25/01/2010) -
(15/01/2010) -
A.P. (DIR Series) Circular No.19 - (09/12/2009) -
RBI/2008-09/460 A.P. (DIR Series) Circular No. 64 - (28/04/2009) -
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