External Commercial Borrowings (ECB) Policy - Refinancing / Rescheduling of ECB

The Reserve Bank of India (RBI) has decided to discontinue the facility allowing eligible borrowers
to raise ECB at a higher all-in-cost to refinance/ reschedule an existing ECB with effect from
01.10.2013. The scheme of refinance of existing ECB by raising fresh ECB at lower all-in-cost,
subject to the condition that the outstanding maturity of the original ECB is either maintained or extended, will continue as hitherto under the automatic route and approval route as the case may be.