External Commercial Borrowing
RBI/2011-12/ 9 Master Circular No.9 /2011-12 To, All Category – I Authorised Dealer Banks Madam / Sir,
July 01, 2011
Master Circular on External Commercial Borrowings and Trade Credits External Commercial Borrowings and Trade Credits availed of by residents are governed by clause (d) of sub-section 3 of section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 3/ 2000-RB viz. Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, dated May 3, 2000, as amended from time to time. 2. This Master Circular consolidates the existing instructions on the subject of
"External Commercial Borrowings and Trade Credits" at one place. The list of underlying circulars / notifications, consolidated in this Master Circular, is furnished in the Appendix. 3. This Master Circular is being issued with a sunset clause of one year. This
circular will stand withdrawn on July 1, 2012 and be replaced by an updated Master Circular on the subject. Yours faithfully,
(Rashmi Fauzdar) Chief General Manager
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INDEX PART I .................................................................................................................. 3 EXTERNAL COMMERCIAL BORROWINGS (ECB)............................................. 3 I.(A) AUTOMATIC ROUTE .............................................................................. 4 i) Eligible Borrowers ....................................................................................... 4 ii) Recognised Lenders ................................................................................... 5 iii) Amount and Maturity................................................................................ 6 iv) All-in-cost ceilings .................................................................................... 7 v) End-use ................................................................................................... 7 vi) End Uses not permitted
July 01, 2011
Master Circular on External Commercial Borrowings and Trade Credits External Commercial Borrowings and Trade Credits availed of by residents are governed by clause (d) of sub-section 3 of section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 3/ 2000-RB viz. Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, dated May 3, 2000, as amended from time to time. 2. This Master Circular consolidates the existing instructions on the subject of
"External Commercial Borrowings and Trade Credits" at one place. The list of underlying circulars / notifications, consolidated in this Master Circular, is furnished in the Appendix. 3. This Master Circular is being issued with a sunset clause of one year. This
circular will stand withdrawn on July 1, 2012 and be replaced by an updated Master Circular on the subject. Yours faithfully,
(Rashmi Fauzdar) Chief General Manager
0
INDEX PART I .................................................................................................................. 3 EXTERNAL COMMERCIAL BORROWINGS (ECB)............................................. 3 I.(A) AUTOMATIC ROUTE .............................................................................. 4 i) Eligible Borrowers ....................................................................................... 4 ii) Recognised Lenders ................................................................................... 5 iii) Amount and Maturity................................................................................ 6 iv) All-in-cost ceilings .................................................................................... 7 v) End-use ................................................................................................... 7 vi) End Uses not permitted