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Part C : RBI/FEMA
Given below are the highlights of certain RBI Circulars.
50 A.P. (DIR Series) Circular No. 43, dated
29-5-2008 — External Commercial Borrowings Policy — Liberalisation.
Presently, borrowers proposing to avail ECB up to US $ 20
million for Rupee expenditure for permissible end-uses require prior approval of
the Reserve Bank under the approval route.
This Circular has relaxed the above limit of US $ 20 million
for Rupee expenditure under the approval route as under :
(i) Borrowers in infrastructure sector can avail ECB up to
US $ 100 million.
(ii) Other borrowers can avail ECB up to US $ 50 million.
The all-in-cost ceilings in respect of ECB have been revised,
with immediate effect, as under :
| Maturity period |
All-in-cost ceiling over 6-month LIBOR for the respective |
|
| Existing |
Revised | |
| Three years and up to five years |
150 basis points |
200 basis points |
| More than five years |
250 basis points |
350 basis points |
