RBI/2014-15/153
A.P. (DIR Series) Circular No.17
July 28, 2014
To,
All Category - I Authorized Dealer Banks
Madam / Sir,
External Commercial Borrowing (ECB) Policy — Review of all-in-cost
ceiling
Attention of Authorized Dealer Category-I (AD Category-I) banks is
invited to
A.P. (DIR Series) Circular No. 121 dated April 10, 2014 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 December 31, 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,
(B. P. Kanungo)
Principal Chief General Manager