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July 2008

A.P. (DIR Series) Circular No. 46, dated 2-6-2008 — External Commercial Borrowings (ECB) by Services Sector — Liberalisation.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Chartered Accountants
Reading Time 1 mins
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Part C : RBI/FEMA


Given below are the highlights of certain RBI Circulars.

 

52 A.P. (DIR Series) Circular No. 46, dated
2-6-2008 — External Commercial Borrowings (ECB) by Services Sector —
Liberalisation.

This Circular permits borrowers in service sector viz.
hotels, hospitals and software companies to avail ECB up to US $ 100 million,
per financial year, under the approval route for the purpose of import of
capital goods. This is in addition to the existing facility for availing trade
credit up to US $ 20 million per import transaction, for a period of less than 3
years.

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