Reserve Bank Of India
A.P. (DIR Series) Circular No. 60
December 14, 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 and
A.P. (DIR Series)
Circular No. 40 dated October 09, 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 till
March 31, 2013 and subject to review thereafter. All other aspects of ECB policy
remain unchanged.
- The amended ECB policy will come into force with immediate effect and is
subject to review based on the experience gained in this regard.
- 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,
(Rashmi Fauzdar)
Chief General Manager
RBI/2012-13/338