Sunday, June 15, 2014

ECB – Re-Schedulement delegated

As a measure of simplification of the existing procedures, it has been decided to delegate the power to the designated AD Category–I bank to allow re-scheduled of External Commercial Borrowings (ECB) due to changes in draw-down schedule and / or repayment (subject to conformity with applicable ECB guidelines). There should not be any increase in the rate of interest and no additional cost (in foreign currency / Indian Rupees) should be involved. The re-scheduled is allowed only once, before the maturity of the ECB.


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