RBI has simplifying the external commercial borrowing norms.
RBI has delegated powers to banks to approve requests from borrowers for extension of matured but unpaid ECB.
Under the extant ECB guidelines, banks can approve requests from borrowers for changes in repayment schedule during the tenure of the ECB.
Further, powers have also been delegated to banks to approve cases of conversion of matured but unpaid ECB into equity.
RBI has decided that the permitted trade transaction, under the Rupee Drawing Arrangements should not exceed Rs 15 lakh per transaction.
