RELAXATION ON PERMITTED END-USES UNDER THE ECB FRAMEWORK FOR CORPORATES AND NBFCS

Published On: 02/08/2019

Authors:

Akhoury Winnie Shekhar
In continuation of its efforts to simplify the existing ECB regime in India, the RBI issued a circular on July 30, 2019, through which it has relaxed the ECB end-use restrictions for corporates and NBFCs by permitting the use of ECB proceeds for working capital requirements, general corporate purposes, repayment of rupee loans and on-lending for such purposes. INDUSLAW’s Winnie Shekhar, Nitin Gera and Nabarun Chandra Ray discuss.