Borrowers in services sectors eligible to avail ECB
31 May 2008, 1746 Hrs

Add comment          Mail          Print          Write to Editor

New Delhi, May 31 (ANI): The External Commercial Borrowing (ECB) policy is regularly reviewed by the Government 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.

Consequent upon such a review, it has been decided to modify some aspects of the ECB policy as indicated below:

At present, borrowers in the services sector are not eligible to avail ECB under the automatic route. It has been decided that henceforth borrowers in the services sector viz hotels, hospitals and software companies may avail ECB upto 100 million dollars for import of capital goods under the approval route.

These amendments in the ECB Policy will come into force on the date of Notification of Regulations and directions issued by the Reserve Bank in this regard under the Foreign Exchange Management Act, 1999. (ANI)

Related Latest

Protesters disrupt train services in Orissa KP points the finger at ECB for his delayed return to England squad F1 boss Bernie Ecclestone, 79, makes it to 'Most Eligible Singletons' list Pak Punjab's Emergency Services Academy sacrificing goats to prevent terror attacks! Broad fires warning to ECB over player burnout Chidambaram expresses displeasure over Services team not playing in Srinagar BCCI bans Services team from playing in Ranji Trophy BMW Launches BMW Golf Cup International 2009 in India 7Seas Technologies' PC Game KrazeT Set to be Available on Intel Business Exchange Dry port in Gujarat's Sanand offers latest ICD services to importers, exporters

Related Latest

As far as Kashmir issue is concerned, India will not redraw borders: Singh Pakistan has not done enough on the Mumbai terror attacks: Manmohan Singh No apprehension about US viewing India differently: Manmohan Singh Winters leave Ladakh out of bound, make stocking of food material a must Eco-friendly vehicles rally held in Delhi People worship Highway Goddess for safe journey in Chennai Lucknow Zoo authorities treating tiger for cancer Hussey ready to cop criticism, but will let bat do the talking PAC supports idea of making Pak Army's financial records public Pak heading towards 'demographic disaster', warn experts

• Pakistan has not done enough on the Mumbai terror attacks: Manmohan Singh
• As far as Kashmir issue is concerned, India will not redraw borders: Singh
• No apprehension about US viewing India differently: Manmohan Singh
• Winters leave Ladakh out of bound, make stocking of food material a must
• Eco-friendly vehicles rally held in Delhi

• भारतीय क्रिकेट की मजबूत दीवार
• कंगारूओं के आगे ढेर, चीतों से कैसे मुकाबला करेंगें शेर
• Reducing greenhouse gases may not be enough to slow global warming
• बीकानेर महापौर चुनावः एक विश्लेषण
• Deepawali: The Festival Of Lights