EXTERNAL COMMERCIAL BORROWINGS (ECB) POLICY - REPAYMENT OF RUPEE LOANS AND/OR FRESH RUPEE CAPITAL EXPENDITURE - USD 10 BILLION SCHEME
The Reserve Bank of India (RBI) has decided: -
- To enhance the maximum permissible limit of ECB that can be availed up to 75 per cent of the average foreign exchange earnings realized during the immediate past three financial years or 50 per cent of the highest foreign exchange earnings realized in any of the immediate past three financial years, whichever is higher;
- In case of Special Purpose Vehicles (SPVs), which have completed at least one year of existence from the date of incorporation and do not have sufficient track record/past performance for three financial years, the maximum permissible ECB that can be availed of will be limited to 50 per cent of the annual export earnings realized during the past financial year; and
- The maximum ECB that can be availed by an individual company or group, as a whole, under this scheme will be restricted to USD 3 billion.