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RBI liberalizes restriction on end use of External Commercial Borrowings

RBI vide notification dated 30th July, 2019 has liberalized the restriction on end use of External Commercial Borrowings. As per the notification, eligible borrowers who satisfy certain conditions mentioned therein, will now be permitted to raise ECBs for specified purposes from recognized lenders, except foreign branches/ overseas subsidiaries of Indian banks.

The conditions along with the complete content of notification is attached herewith:

RBI_notification

 

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