Ozg Corporate Funding Consultant
Ozg Center, New Delhi & Mumbai
Website: http://fundraising.ozg.in
To book an appointment with Ozg Fundraising Consultants, please go to: ozgcenter.com/appointment
Phone # +91 (0) 88-007-25647
To book an appointment with Ozg Fundraising Consultants, please go to: ozgcenter.com/appointment
Email: funding.consultant@ozg.co.in
RBI/2012-13/387
A.P. (DIR Series) Circular No.78
January 21, 2013
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy –
Repayment of Rupee loans and/or fresh Rupee
capital expenditure – USD 10 billion scheme
Attention of Authorized Dealer
Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular
No. 134 dated June 25, 2012 and A.P. (DIR Series) Circular No. 26 dated
September 11, 2012.
2. As per the extant
guidelines, Indian companies in the manufacturing and infrastructure sector (as
defined under the extant ECB policy), which are consistent foreign exchange
earners, are allowed to avail of ECBs for repayment of outstanding Rupee
loan(s) availed of from the domestic banking system and / or for fresh Rupee
capital expenditure.
3. On a review, it has been
decided to include Indian companies in the hotel sector (with a total project
cost of INR 250 crore or more), irrespective of geographical location as
eligible borrowers under this scheme. AD may certify the project cost at the
time of forwarding the ECB application to the Reserve Bank.
4. All other aspects of the
scheme shall remain unchanged and the amended ECB policy will come into force
with immediate effect and is subject to review based on the experience gained
in this regard.
5. AD Category-I banks may
bring the contents of this circular to the notice of their constituents and
customers concerned.
6. The directions contained in
this circular have been issued under sections 10(4) and 11(1) of the Foreign
Exchange Management Act, 1999 (42 of 1999) and are without prejudice to
permissions / approvals, if any, required under any other law.
Yours faithfully,
(Rashmi Fauzdar)
Chief General
Manager
Ozg Corporate Funding Consultant
Ozg Center, New Delhi & Mumbai
Website: http://fundraising.ozg.in
To book an appointment with Ozg Fundraising Consultants, please go to: ozgcenter.com/appointment
Phone # +91 (0) 88-007-25647
To book an appointment with Ozg Fundraising Consultants, please go to: ozgcenter.com/appointment
Email: funding.consultant@ozg.co.in
