On a review of the current ECB policy, it has been decided, in consultation with the Government of India, to allow Indian companies which are in the infrastructure sector, where “infrastructure” is as defined under the extant guidelines on ECB, to avail of ECBs in RMB, under the approval route, subject to an annual cap of USD one billion pending further review.

Detailed instructions have been issued vide A. P. (DIR Series) Circular No. 30 dated September 27, 2011.

J. D. Desai
Assistant Manager

Press Release : 2011-2012/485