| Date: |
11-06-2015
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| Notification No: |
RBI/2014-15/637 A. P. (DIR Series) Circular No. 108
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
A. P. (DIR Series) Circular No. 108 |
| Subject: |
External Commercial Borrowings (ECB) for low cost affordable housing projects
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RBI/2014-15/637
A. P. (DIR Series) Circular No. 108
June 11, 2015
To
All Authorised Dealer Category – I Banks
Madam/ Sir
External Commercial Borrowings (ECB) for low cost affordable housing
projects
Attention of Authorized Dealer Category - I (AD Category - I) banks is
invited to
A.P. (DIR Series) Circular No. 61 dated December 17, 2012 and
A.P.
(DIR Series) Circular No. 113 dated June 24, 2013 in terms of which External
Commercial Borrowings (ECB) can be raised by eligible borrowers, for low cost
affordable housing projects, under the approval route.
- On a review, it has been decided that the scheme of raising ECB for
low cost affordable housing projects will continue for the financial year
2015-16 with the same terms and conditions as mentioned in the above A.P.
(DIR Series) Circulars.
- 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 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 required, if any, under
any other law.
Yours faithfully
(B. P. Kanungo)
Principal Chief General Manager
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