RBI/2013-14/560
A.P. (DIR Series) Circular No.121
April 10, 2014
To
All Category – I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowing (ECB) Policy – Review of all-in-cost
ceiling
Attention of Authorised Dealer Category - I (AD Category - I) banks is
invited to
A.P. (DIR Series) Circular no. 58 dated September 30, 2013 relating
to the all-in-cost ceiling for ECB.
- On a review, it has been decided that the all-in-cost ceiling as
specified under paragraph 2 of
A.P. (DIR Series) Circular No. 99 dated March
30, 2012 will continue to be applicable till June 30, 2014 and is subject to
review thereafter. All other aspects of ECB policy remain unchanged.
- AD Category-I banks may bring the contents of this circular to the notice
of their constituents and customers concerned.
- The directions contained in this circular have 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
(Rudra Narayan Kar)
Chief General Manager-In-Charge