What is external commercial borrowing and wat are the benefits of ECBs?
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Comments
ECB
July 7, 2011 by Gunapriya.R, 45 weeks 1 day ago
Comment: 104
ECB - External Commercial Borrowing is a window for the corporates to avail the loan at cheap interest rate from international bond market, international banks through automatic route or approval route. Under automatic route, the corporates need not to get the approval from RBI/ government to raise the funds through the issue of ECB to international banks whereas under approval route, the corporatess under go certain guidelines.
There are certain conditions for ECB placement. ECBs should be placed minimum with the maturity period of 3 years and the corporates are allowed to take the ECB route for financing the business only up to 50%. Usually, the corporates adopt this kind of borrwing to finance the imports and also to fund greeen field projects.
I dont konw the exact procedure to place ECB under approval route. If anyone knows, kindly let me know.
Procedure
July 8, 2011 by sknlakshmi, 45 weeks 1 day ago
Comment: 108
Procedure for ECB
Borrowers may enter into loan agreement complying with ECB guidelines with recognised lender for raising ECB under Automatic Route without prior approval of RBI. They must obtain a Loan Registration Number (LRN) from the Reserve Bank of India before drawing down the ECB
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December 30, 2011 by veronicaD, 20 weeks 20 hours ago
Comment: 179
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