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June 2009

External Commercial Borrowings (ECB) Policy — Liberalisation

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Nimesh Dedhia, Vijay Kewalramani
Chartered Accountants

Reading Time 1 mins

New Page 2

Part C : RBI/FEMA

Given below are the highlights of certain RBI Circulars

A. P. (DIR Series) Circular No. 64, dated April 28, 2009

External Commercial Borrowings (ECB)
Policy — Liberalisation

Presently, ECB could be obtained, up to June 30, 2009, at
rates higher than the all-in-cost ceilings by obtaining approval of RBI under
the approval route.

This Circular has extended this date for borrowing at rates
higher than the all-in-cost ceilings by obtaining approval of RBI under the
approval route from June 30, 2009 to December 31, 2009.

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June 2009

External Commercial Borrowings (ECB) Policy — Liberalisation

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June 2009

External Commercial Borrowings (ECB) Policy — Liberalisation

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