Reserve bank of India
A.P.(DIR Series) Circular No. 11
July 11, 2013
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. 60 dated December 14, 2012 relating to ECB.
- On a review, 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 September 30, 2013 and is subject to review thereafter.
- 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 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,
(Rudra Narayan Kar)
Chief General Manager-in Charge
RBI/2013-14/134