Search Result for : Ecb

The Dollar Business Bureau The Government has granted infrastructure status to the logistics sector, which covers warehousing and cold chain facilities, a step that would to attract more investment at remunerative rates for these segments.  “The Logistics Sector has been granted Infrastructure status. It will enable the Logistics Sector to avail infrastructure lending at easier terms with enhanced limits, access to larger amounts of funds as External Commercial Borrowings (ECB), access to longer tenor funds from insurance companies and pension funds and be eligible to borrow from India Infrastructure Financing Company Limited (IIFCL),” Finance Ministry said in a statement on Monday.   Due to the higher cost of logistics in India as compared to developed nations, the need has been felt for the ...

The Dollar Business Bureau Indian companies have raised $488.49 million through external commercial borrowings (ECBs) and rupee denominated bonds (RDBs) in November 2016, according to Reserve Bank of India data. India Inc had raised $3.16 billion from foreign sources in the corresponding month of last year. This significant decline was seen in terms of the number of companies too, as only 34 companies raised money through ECB last month as against 53 in November last year. The RBI said that the data, however, cannot be compared as borrowings through RDBs were included only this year. The banking body has allowed Indian companies to tap foreign sources and has started to issue RDBs from this year. It has started to publish ...

The Dollar Business Bureau To aid the overseas companies in raising money for infrastructure projects within the country, the Reserve Bank of India has relaxed the norms for borrowing these funds.The bank after consulting the government and keeping in mind the existing overseas funding sources, has reassessed the guidelines of the ECB (External Commercial Borrowing). This has been done keeping in mind the need for long term lending for infrastructure projects in the country.Firms in the infrastructure sector that qualify for ECB are, NBFCs-Asset Finance Companies (NBFC-AFCs), Core Investment, Non-Banking Financial Companies -Infrastructure Finance Companies (NBFC-IFCs), Companies (CICs) and Holding Companies. These firms qualify to the ECB having a maturity period of 5 years. However, these would be subjected to 100% ...

The ECB expanded the monthly purchases bond under the asset purchase programme to 80 billion a month from its earlier 60 billion a month starting in April and intended to run until March 2017. The Dollar Business Bureau The European Central Bank (ECB) reduced its marginal lending facility rates and its deposit facility rates.   Concerned over fresh fears of aneconomic meltdown in Europe, the European Central Bank (ECB) on Thursday cut interest rates to an all-time low to zero across the euro zone and decreased two other interest rates. On Thursday, a 25-member Governing Council held a meeting in Frankfurt, Germany and announced a slew of unprecedented initiatives to revive its stalled economy. The interest rate on the main refinancing operations of the ...

Dated 30th November, 2015 | Copy of | Circular No.32| To, All Authorised Dealer Category-I Banks Attention of Authorised Dealer Category-I (AD Cat I) banks is invited to A.P. (DIR Series) Circular No.5 dated August 1, 2005 containing the basic framework under which eligible resident entities can raise External Commercial Borrowings (ECB). Subsequent to issuance of this circular, the ECB framework has been incrementally calibrated taking into account the emerging financing needs of the Indian entities and the macroeconomic developments, by bringing more resident entities as eligible borrowers, recognizing more entities as lenders, expanding end-uses, etc., besides periodically reviewing the All-in-Cost (AIC) for such borrowings. Special carve outs were also made to take care of sector specific needs. 2. As sufficient time has ...

The Dollar Business Bureau The government is likely to allow airlines to import aircraft without prior approval, Civil Aviation Minister Ashok Gajapathi Raju said. As per the existing norms, all scheduled and unscheduled regional airline operators need to get a no-objection certificate from the Civil Aviation Ministry for the acquisition or import of aircraft. The ministry has already written to the Reserve Bank of India and Directorate General of Foreign Trade (DGFT), seeking amendments in their rules so as to make the import procedure easier for airlines. “As a step forward, towards simplification of procedures, Ministry of Civil Aviation has requested Directorate General of Foreign Trade, Ministry of Commerce & Industry, for amending their notification and Reserve Bank of India to ...

Dated March 03, 2015 | RBI/2014-15/483 | A.P. (DIR Series) Circular No.80 | Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 17 dated July 28, 2014 relating to the all-in-cost ceiling for ECB. 2. On a review, it has been decided that the all-in-cost ceiling as specified under paragraph 2 of A.P. (DIR Series) Circular No. 99 dated March 30, 2012 will continue to be applicable till March 31, 2015 and is subject to review thereafter. All other aspects of ECB policy remain unchanged. 3. AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 4. The directions contained in this circular have ...

Dated 1st January, 2015 | Copy of | A.P. (DIR Series) Circular No.55 | Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to Paragraphs 1 (A)(vii) and 1 (B) (vi) of Annex to A P (DIR Series) Circular No. 5 dated August 1, 2005 and A P (DIR Series) Circular No. 1  dated July 11, 2008 relating to creation of charge over securities for External Commercial Borrowings (ECB). 2. Under the extant ECB guidelines, the choice of security to be provided to the overseas lender/supplier for securing ECB is left to the borrower. With a view to liberalising, expanding the options of securities and consolidating various provisions related to creation of charge over securities for ECB at one ...