ISSUING AUTHORITY : RESERVE BANK OF INDIA
DATE OF ISSUE : 08/07/2013
EFFECTIVE DATE : IMMEDIATE EFFECT
CIRCULAR NO. 6
On a review it has been decided to allow NBFCs categorised as Asset Finance Companies (AFCs) to:
- Avail the ECB under the Automatic Route as per the extant guidelines with a minimum maturity of 5 years.
- Such ECBs under the automatic route can be availed upto 75% of the owned funds subject to a maximum of USD 200 million or its equivalent per financial year.
- ECBs above 75% shall be considered under the approval route.
For detailed Circular, log on to the Link given below
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