Reserve Bank Of India
A.P. (DIR Series) Circular No. 40
October 09, 2012
To
All Category-I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (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. 99 dated March 30, 2012 relating to ECB.
- It has been decided that the all-in-cost ceiling as specified in A.P. (DIR
Series) Circular No. 99 dated March 30, 2012 will continue to be applicable
until further review.
- All other aspects of ECB policy remain unchanged and 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, if any, required under any
other law.
Yours faithfully,
(Rashmi Fauzdar)
Chief General Manager
RBI/2012-13/240