GUIDELINES ON POLICIES AND PROCEDURES FOR EXTERNAL COMMERCIAL BORROWINGS FOR 1997-98

PROCEDURE FOR SEEKING ECB APPROVAL

Applications may be submitted by the borrowers in the prescribed format (Annex. II) to the Joint Secretary (ECB), Department of Economic Affairs, Ministry of Finance, North Block, New Delhi-110 001.

The application should contain the following information:-

1. An Offer letter from the lender giving the detailed terms and conditions;
2. Copy of Project Appraisal Report from a recognised Financial Institution/Bank, if applicable;
3. Copies of relevant documents and approvals from Central/State Governments, wherever applicable, such as FIPB, CCEA, and SIA clearances, environmental clearance, techno-economic clearance from Central Electricity Authority, valid licences from Competent Authorities, no objection certificate from Ministry of Surface Transport, evidence of export/foreign exchange earnings from the statutory auditor based on the bankers realisation certificate, registration with RBI in case of NBFCs, approval for overseas investment from RBI etc.

Guidelines on Policies and Procedures for External Commercial Borrowings 1997-98

[ECB Policy] [Average Maturities for ECB] [USD 3 Million Scheme][Exporters/Foreign Exchange Earners][ Infrastructure Projects][Long-Term Borrowers][On Lendings by DFIs and Other Financial Intermediaries][End-Use Requirements][Proceeds from Bonds , FRNs & Syndicated Loan][ECB Entitlement for New Projects][Interest rate for Project Financing][Other Term and Conditions][Security][Exemption from Withholdings Tax][Approval under FERA][Short-Term Loan from RBI][Validity of Approval][Pre-Payment of ECB][Refinancing the Existing Foreign Currency Loan][Liability Management][Procedure for Seeking ecb Approval][Review][Hedging of Loan Exposures][Format for providing information to Department of Economic Affairs, Ministry of Finance, for seeking ECB Approval]