EXTERNAL COMMERCIAL BORROWINGS

RBI liberalises pledge of shares of Indian Company by Non-Resident Investors for business purposes

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...

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Government Announces Measures for Stimulating the Economy

Fema / 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...

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ECB for Low Cost Housing, Working Capital in Civil Aviation, Part Finance Power Project DEBT

Fema / 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...

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Working Group on Foreign Investments in India, Govt invites comments on issues involved

Fema / 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 ...

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FCCB Buyback deadline may be extended by six months

Fema / 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....

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External Commercial Borrowings Policy Reviewed

Fema / 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...

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External Commercial Borrowings – RBI simplifies procedure

RBI/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...

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External Commercial Borrowings -Liberalisation for Services Sector

A.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....

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RBI relaxed oversees borrowing rules for Infrastructure Finance Companies

RBI/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....

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External Commercial Borrowings (ECB) Policy – Structured Obligations

RBI/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...

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RBI circular on External Commercial Borrowings (ECB) Policy

RBI/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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Recent Posts in "EXTERNAL COMMERCIAL BORROWINGS"

ECB for Low Cost Housing, Working Capital in Civil Aviation, Part Finance Power Project DEBT

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 More
Posted Under: Fema / RBI |

External Commercial Borrowings – RBI simplifies procedure

RBI/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 financial institution (such as IFC, ADB, C...

Read More

RBI liberalises pledge of shares of Indian Company by Non-Resident Investors for business purposes

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 More
Posted Under: Fema / RBI | ,

External Commercial Borrowings -Liberalisation for Services Sector

A.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 More

RBI relaxed oversees borrowing rules for Infrastructure Finance Companies

RBI/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 More

External Commercial Borrowings (ECB) Policy – Structured Obligations

RBI/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 No. 5 dated August 1, 2005 relating to Ex...

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RBI circular on External Commercial Borrowings (ECB) Policy

RBI/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 of time, it has been decided to make a on...

Read More

Working Group on Foreign Investments in India, Govt invites comments on issues involved

(15/01/2010)

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 ...

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Posted Under: Fema / RBI |

RBI Circular No. 19/2009 on External Commercial Borrowings (ECB) Policy

A.P. (DIR Series) Circular No.19 (09/12/2009)

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)....

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RBI Circular on External Commercial Borrowings (ECB) Policy – Liberalisation

RBI/2008-09/460 A.P. (DIR Series) Circular No. 64 (28/04/2009)

As announced in Para 107 of the Annual Policy Statement 2009-10 and considering the continuing pressure on credit spreads in the international markets, it has been decided to extend the relaxation in all–in-cost ceilings, under the approval route, until December 31, 2009. This relaxation will be reviewed in December 2009....

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