Reserve bank of India
A.P. (DIR Series) Circular No. 116
June 25, 2013
To,
All Authorized Dealer Category - I Banks
Madam / Sir
External Commercial Borrowings (ECB) for Civil Aviation Sector
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the A.P. (DIR Series) Circular No. 113 dated April 24, 2012 on the captioned subject.
- In terms of paragraph 2 (iii) of the aforesaid circular, the ECB for working capital for civil aviation sector should be raised within twelve (12) months from the date of issue of the circular. On a review, it has now been decided that the scheme of availing of ECB for working capital for civil aviation sector will continue till December 31, 2013.
- All other aspects of the ECB policy shall remain unchanged.
- AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers.
- The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully
(Rudra Narayan Kar)
Chief General Manager in-Charge
RBI/2012-13/545
No comments:
Post a Comment