RBI circular on External Commercial Borrowings (ECB) Policy
Jan 28, 2010 RBI
RBI/2009-10/ 292
A.P. (DIR Series) Circular No. 28 – Dated: January 25, 2010
External Commercial Borrowings (ECB) Policy
Attention of Authorized Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular No. 5 dated August 1, 2005, A.P. (DIR Series) Circular No. 26 dated October 22, 2008 and para 2 (v) of A.P. (DIR Series) Circular No.19 dated December 9, 2009 relating to External Commercial Borrowings (ECB) for spectrum allocation.
Read the rest of this entry »
Tags: authorized dealer, bidders, ECB, ecbs, eligible borrower, eligible borrowers, EXTERNAL COMMERCIAL BORROWINGS, guarantees, maturity period, policy attention, refinancing, relaxation, spectrum allocation, telecommunication sector, telecommunications sector
RBI Circular No. 19/2009 on External Commercial Borrowings (ECB) Policy
Dec 13, 2009 RBI
RBI/2009-10/252
A.P. (DIR Series) Circular No.19, Dated: December 9, 2009
To
All Category – I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy
Attention of Authorized Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular No. 46 dated January 2, 2009, A.P. (DIR Series) Circular No. 64 dated April 28, 2009 and A.P. (DIR Series) Circular No. 71 dated June 30, 2009 relating to External Commercial Borrowings (ECB).
Read the rest of this entry »
Tags: authorized dealer, ecbs, eligible borrowers, EXTERNAL COMMERCIAL BORROWINGS, international financial markets, international markets, loan agreement
Download Fema Forms in Excel/Word Format for Free
Jun 6, 2009 FEMA
We welcome you to view updated version of various Forms under Foreign Exchange Management Act (FEMA), 1999. This part shows all the Forms issued by the Reserve Bank of India since inception of FEMA, 1999 i.e. w.e.f. 01/06/2000 up till date. We have uploaded all the forms in word format. Our site is the only site which provides all the forms for free.
| S.
NO. |
PARTICULARS / DESCRIPTION OF FORMS | WORD
FORMAT |
| 1 | Statement showing details of remittances effected towards import in respect of which documentary evidence has not been received despite reminders | Download |
| 2 | Currency Declaration Form | Download |
| 3 | Application for raising External Commercial Borrowings (ECB) under Approval Route | Download |
| 4 | Reporting of loan agreement details under Foreign Exchange Management Act, 1999 | Download |
| 5 | Reporting of actual transactions of External Commercial Borrowings (ECB) | Download |
| 6 | Issue of Shares of non-residents under Automatic Route of RBI – Form FC-GPR | Download |
| 7 | FCGPR | Download |
| 8 | Application for drawl of Foreign Exchange | Download |
| 9 | FNC 1 | Download |
| 10 | Return to be filed by an Indian company who has arranged issue of GDR/ADR | Download |
| 11 | Exchange Control Declaration (Original/Duplicate) | Download |
| 12 | Application for remittance of legacies, bequests or inheritances to beneficiaries resident outside India | Download |
| 13 | Direct Investment in a Joint Venture (JV)/Wholly Owned Subsidiary Overseas (WOS) Approval/Reporting of Outward Remittances | Download |
| 14 | Quarterly Return | Download |
| 15 | Declaration of immovable property acquired in India by a person resident outside India | Download |
| 16 | Application-cum-Undertaking form for opening of Non-Resident (Special) Rupee (NRSR) Account | Download |
| 17 | Exchange Control (Exporters Declaration) (original/duplicate) | Download |
| 18 | RESTRICTED MONEY CHANGER | Download |
| 19 | SDF | Download |
| 20 | Software Export Declaration (SOFTEX) Form (original/duplicate/triplicate) | Download |
| 21 | Application for transfer of shares of a company registered in India by a non-resident to a person resident in India | Download |
| 22 | TC – Approvals of Trade Credit | Download |
| 23 | XOS – Statement of particulars of export bills outstanding beyond prescribed period/due date of realisation | Download |
| 24 | Stat of Exposure of Corporate in foreign currency | Download |
| 25 | APPLICATION FORM FOR FFMC LICENSE UNDER SECTION 10 OF FEMA 1999 | Download |
| 26 | FLM8 for FFMCs | Download |
| 27 | FLM8 for ADs Cat II | Download |
| 28 | FTD Statement | Download |
| 29 | GPB Statement | Download |
| 30 | Application for obtaining permission to enter into Rupee or Foreign Currency Drawing Arrangements with Exchange Houses | Download |
| 31 | Remittances received under MTSS Statement Qtly | Download |
| 32 | Reports by ADs CatII | Download |
| 33 | Stat of Cross Currency Der | Download |
| 34 | Report on exposures of corporates in foreign currency | Download |
| 35 | Stat of Fcy written off by FFMCs and ADs CatII | Download |
| 36 | Stat of FcyINR option reports | Download |
| 37 | Stat of Forward contract based on past performance | Download |
| 38 | Stat of Forward exchange cover for FIIs | Download |
| 39 | Stat of Fwd contracts SMEs & Ind | Download |
| 40 | Stat of Import export turnover | Download |
| 41 | Stat of Individual purchase transactions above USD 10000 for FFMCs and ADs CatII | Download |
| 42 | Stat of Long term FcyINR Swap | Download |
| 43 | Stat of Nostro, Vostro Bal | Download |
| 44 | Stat of Overseas Fcy borrowings | Download |
| 45 | Stat of Summation of Fcy accounts FFMCs and ADs CatII | Download |
| 46 | Statement on Commodity Hedging Domestic Transactions | Download |
| 47 | Statement A.RDA | Download |
| 48 | Statement B.RDA | Download |
| 49 | Statement C.RDA | Download |
| 50 | Statement D.RDA | Download |
| 51 | Statement E.RDA | Download |
| 52 | For Printing GR Form Click Here | Download |
Tags: commodity, Download Fema Forms, ECB, ecbs, evidences, exchang, exchange, FEMA, Fema Form in Excel, Fema Form in Word Format, Fema Forms, foreign exchange management, FORM, forms, free, money, non-resident, RBI, remittance, reserve bank of india, word format
NO FURTHER CHANGE LIKELY IN ECB POLICY
Dec 27, 2008 FEMA
External commercial borrowing (ECB) norms are not likely to be relaxed any further soon, sources in the finance ministry indicated on Friday.
“Can you think of any other relaxation?” asked a senior finance ministry official in reply to a question on the possibility of easing ECB norms more.
While suggesting no further scope for relaxation in ECB as demand for external borrowing has grown across sectors, the official said, “Money is flowing in through ECBs.”
The government has been taking monetary and fiscal measures to combat the slowdown, brought about by the global financial crisis.
After various curbs put on ECBs to restrict the flow of foreign capital in India to arrest rupee appreciation last year, the government has been relaxing this route of raising money abroad.
Earlier, it allowed infrastructure firms to bring in $100 million to India for rupee expenditure against $20 million. Similarly, other firms were allowed to bring in $50 million.
It further relaxed this norm by allowing companies to bring in $500 million for rupee or dollar expenditure on the automatic route.
The Government has also expanded the definition of infrastructure firms for accessing ECBs by including mining, exploration and refining.
Tags: ECB, ECB Policy, ecbs, external borrowing, Finance, raising money
WHY THE DOLLAR IS GETTING STRONGER
Dec 18, 2008 Finance
INVESTORS have every reason to hate the US dollar. The rising deficit. The deteriorating economy. The plunging stock and bond markets. But rather than getting hammered by the financial crisis, the greenback is soaring. Since July the dollar is up 19% against the euro and 24% against the British pound. Whether it’s a boon or a burden depends on perspective. US companies with huge exports aren’t thrilled, since a strong dollar hurts sales even as US consumers traveling to Paris will find their cash buys more than before.
What’s behind the dollar’s surprising strength? First, there’s the fear factor. During tough economic times, investors often flee foreign currencies and other risky assets for safe havens like the US dollar. The euro, the pound, and emerging-market currencies may also have been inflated after a six-year run-up.
A basket of foreign currencies rose 25% between 2002 and mid-2008 versus the dollar. The euro jumped 45%. But earlier this year some investors started betting the bubbles would burst, driving down the price of the currencies and conversely benefiting the dollar.
After its recent strong performance, the dollar is currently trading at about $1.28 to the euro, what some figure is a fair price based on the current buying power of consumers.
“When the stresses start to abate, people will be forced to think about whether they want to invest in the US,” says Thomas Stolper, an economist at Goldman Sachs. But if the global economy continues to sour, the dollar may rise even more.
The European currency markets may also feel the stress from the global slowdown. The euro zone lacks a strong central government that can adjust rapidly to crisis. For example, the ECB has been criticised for not recognising the severity of the crisis early enough: It raised interest rates in July before cutting them in October and November. Says Stephen Jen, an economist at Morgan Stanley: “The dollar’s rise is genuine and more deserving than many sceptics have in mind.”
Tags: assets, bond markets, central government, currency markets, Dollar, ECB, ecbs, euro zone, foreign currencies, Goldman Sachs, investments, morgan stanley
MoF revises ECB policy; enhances USD 20 mn limit to USD 50 mn for Rupee expenditure
Jun 9, 2008 Finance
*HAVING reviewed the External Commercial Borrowing (ECB) in* in consultation with Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and lessons of experience, the Ministry of Finance today enhanced the limit to USD 50 mn for Rupee expenditure for permissible end-users under the approval route.
The policy has been modified as
(i) borrowers in infrastructure sector may avail ECB up to USD 100 million for Rupee expenditure for permissible end-uses under the Approval Route;
(ii) in the case of other borrowers, the existing limit of USD 20 million for Rupee expenditure for permissible end-uses under the Approval Route has been enhanced to USD 50 million.
The all-in-cost ceilings in respect of ECB are modified as follows:
*Average Maturity Period * *All-in-Cost ceilings over 6 Months LIBOR
* Existing Proposed Three years and up to five years 150 bps 200 bps More than five years 250 bps 350 bps
The above changes will apply to ECB both under the automatic route and the approval route.
All other aspects of ECB policy such as USD 500 million limit per company per year under the Automatic Route, eligible borrower, recognised lender, end-use of foreign currency expenditure for import of capital goods and overseas investments, average maturity period, prepayment, refinancing of existing ECB and reporting arrangements remain unchanged.
The above amendments in ECB policy will come into force on the date of Notification of Regulations / directions issued by the Reserve Bank in this regard under the Foreign Exchange Management Act, 1999.
*FIIs’ Investments in Government Securities and Corporate Bonds *
At present, FIIs registered with SEBI are permitted to invest in Government Securities and corporate bonds up to USD 3.2 billion and USD 1.5 billion, respectively. It has been decided in consultation with the Reserve Bank to enhance the limits to USD 5 billion and USD 3 billion, respectively. SEBI is being advised to take further action in the matter.
Tags: amendments, corporates, ECB, ECB Policy, ecbs, eligible borrower, enhancement, expenditures, fiis investments, Finance, foreign currency, foreign exchange management, government securities, investments, maturity period, ministry of finance, overseas investments, proposals, RBI, regulators, reserve, SEBI