Jul 01, 2016

RBI Circular on Approval Route Cases for Raising External Commercial Borrowings

As a measure to expedite the process for obtaining RBI approval for raising external commercial borrowings (‘ECBs’) through the approval route, RBI has, pursuant to a circular dated June 30, 2016 (‘ECB Circular’), directed that ECBs above certain thresholds (yet to be prescribed) will be required to be placed before an ‘Empowered Committee’ of RBI. RBI will take a final decision on these cases after taking into account the recommendation of the Empowered Committee. Prior to the ECB Circular, all approval route cases were required to be placed before the Empowered Committee for consideration.




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