RBI
Issues Modified Format of ECB-2 Return – w.e.f. April 2014
[RBI Circular No. 105 dated 17th
February 2014]
Sub: External Commercial Borrowings (ECB) – Reporting
arrangements
Attention of Authorized Dealer Category-I (AD Category-I)
banks is invited to the Foreign Exchange Management (Borrowing or Lending in
Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA
3/2000-RB dated May 3, 2000, as amended from time to time and A.P. (DIR Series)
Circular No.60 dated January 31, 2004 relating to reporting arrangements for
ECB.
2. In order to
capture details of the financial hedges contracted by corporates, of their
foreign currency exposure relating to ECB and their foreign currency earnings
and expenditure, the format of ECB-2 Return has been modified (Part-E) and the
same has been given in the Annex. The reporting in the modified ECB-2 Return
will be applicable from the return of the month April 2014 onwards.
3. There is no
change in the reporting procedure and corporates raising ECB continue to submit
ECB-2 Return on a monthly basis duly certified by the designated AD Category-I
bank so as to reach Department of Statistics and Information Management (DSIM)
of Reserve Bank of India within seven working days from the close of month to
which it relates.
4. AD Category -
I banks may bring the contents of this circular to the notice of their
constituents and customers.
5. The directions
contained in this circular has been issued under sections 10(4) and 11(2) of the
Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to
permissions/ approvals, if any, required under any other law.