RBI/2013-14/495
A. P. (DIR Series) Circular No. 105
February 17, 2014
To
All Category-I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) – Reporting arrangements
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 reporting arrangements for ECB.
- In order to capture details of the financial hedges contracted by corporates, of their foreign currency exposure relating to ECB and their foreign
currency earnings and expenditure, the format of ECB-2 Return has been modified
(Part-E) and the same has been given in the Annex. The reporting in the modified
ECB-2 Return will be applicable from the return of the month April 2014 onwards.
- There is no change in the reporting procedure and corporates raising ECB
continue to submit ECB-2 Return on a monthly basis duly certified by the
designated AD Category-I bank so as to reach Department of Statistics and
Information Management (DSIM) of Reserve Bank of India within seven working days
from the close of month to which it relates.
- 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(2) 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,
(Rudra Narayan Kar)
Chief General Manager-in-Charge