RESERVE BANK OF INDIA
A. P. (DIR Series) Circular No. 136
June 26, 2012
To
All Category-I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) – Rationalisation of Form-83
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to
the Foreign Exchange Management (Borrowing or lending in foreign exchange)
Regulations, 2000, notified vide
Notification No. FEMA 3/2000-RB dated May 3,
2000, as amended from time to time and
A.P. (DIR Series) Circular No.60 dated
January 31, 2004 relating to ECB.
- On a review, it has been decided to rationalize the Form-83 submitted to the
Reserve Bank for obtaining Loan Registration Number (LRN) to reflect the
liberalization and rationalization measures that have been carried out over a
period of time. Accordingly, borrowers desirous of obtaining Loan Registration
Number (LRN) with effect from July 01, 2012 may submit Form-83 in the revised
format (Annex I). An illustration of calculation of average maturity period is
provided at
Annex II for guidance.
- All other conditions of ECB, such as eligible borrower, recognized lender,
end use, all-in-cost, average maturity, prepayment, refinancing of existing ECB
and reporting arrangements shall remain unchanged and shall be complied with.
- AD Category - I banks may bring the contents of this circular to the notice
of their constituents and customers.
- The directions contained in this circular has 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
RBI/2011-12/620