April 2010
A.P. (DIR Series) Circular No. 38, dated 2-3-2010 — External Commercial Borrowings (ECB) Policy.
By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
Reading Time 1 mins
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Part C : RBI / FEMA
Given below are the
highlights of certain RBI Circulars.
12 A.P.
(DIR Series) Circular No. 38, dated 2-3-2010 — External Commercial Borrowings (ECB)
Policy.
Presently, infrastructure
sector is defined as (i)
power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v)
sea port and airport, (vi) industrial parks, (vii) urban infrastructure (water
supply, sanitation and sewage projects), and (viii) mining, exploration and
refining.
This Circular had enlarged
the definition of infrastructure sector to include “cold storage or cold-room
facility, including for farm-level pre-cooling, for preservation or storage of
agricultural and allied produce, marine products and meat”. As a result,
infrastructure sector will now include :
(i) power, (ii)
telecommunication,
(iii) railways,
(iv) road including
bridges,
(v) sea port and
airport,
(vi) industrial parks,
(vii) urban
infrastructure (water supply, sanitation and sewage projects),
(viii) mining,
exploration and refining, and
(ix) cold storage or
coldroom facility, including for farm-level pre-cooling, for preservation or
storage of agricultural and allied produce, marine products and meat.
