Libor Plus Ceiling at 350bps for ECB to
Continue Till 31 March 2015
[RBI
Circular No. 80 dated 3rd March 2015]
Sub:
External Commercial Borrowing (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. 17 dated July 28, 2014 relating to the all-in-cost ceiling
for ECB.
2. On a review,
it has been decided that the all-in-cost ceiling as specified under paragraph 2
of A.P. (DIR Series) Circular No. 99 dated March 30, 2012 will continue to be
applicable till March 31, 2015 and is subject to review thereafter. All other
aspects of ECB policy remain unchanged.
3. AD Category-I
banks may bring the contents of this circular to the notice of their
constituents and customers concerned.
4. 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.