RBI/2010-11/8
Master Circular No. 8 /2010-11
July 01, 2010
To,
All Category – I Authorised Dealer Banks
Madam / Sir,
Master Circular on External Commercial Borrowings
and Trade Credits
External Commercial Borrowings and Trade Credits availed of by residents are
governed by clause (d) of sub-section 3 of section 6 of the Foreign Exchange
Management Act, 1999 read with
Notification No. FEMA 3/ 2000-RB viz. Foreign Exchange
Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, dated
May 3, 2000, as amended from time to time.
2. This
Master Circular consolidates the existing instructions on
the subject of ';External Commercial Borrowings and Trade Credits'; at one
place. The list of underlying circulars / notifications, consolidated in this
Master Circular, is furnished in the Appendix.
3. This Master Circular is being issued with a sunset clause of one year.
This circular will stand withdrawn on July 1, 2011 and be replaced by an updated
Master Circular on the subject.
Yours faithfully,
(Salim Gangadharan)
Chief General Manager-in-Charge