| Date: |
11-06-2015
|
| Notification No: |
RBI//2014-15/638 A.P. (DIR Series) Circular No.109
|
| Issuing Authority: |
RBI
|
| Type: |
A.P.D.(Series) Circulars
|
| File No: |
A.P. (DIR Series) Circular No.109 |
| Subject: |
External Commercial Borrowings (ECB) for Civil Aviation Sector
|
|
RBI//2014-15/638
A.P. (DIR Series) Circular No.109
June 11, 2015
To,
All Authorised Dealer Category – I Banks
Madam/ Sir
External Commercial Borrowings (ECB) for Civil Aviation Sector
Attention of Authorized Dealer Category - I (AD Category - I) banks is invited
to
A.P. (DIR Series) Circular No. 113 dated April 24, 2012 in terms of
which External Commercial Borrowings (ECB) can be raised by airline companies
for working capital as a permissible end-use, under the approval route, subject
to the conditions stipulated in the said Circular. The scheme was extended
initially till December 31, 2013 vide
A.P. (DIR Series) Circular No.116 dated June 25, 2013 and
thereafter till March 31, 2015 vide A.P. (DIR Series) Circular No. 113 dated
March 26, 2014.
- On a review, it has been decided that the above scheme of raising ECB
for working capital for Civil Aviation Sector will continue till March 31,
2016 with the same terms and conditions.
- 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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