13 July, 2015
ECB for Civil Aviation Sector
Airline companies had been allowed to raise ECB for working capital requirements as a permissible 'end use' under the approval route pursuant to the circular dated April 24, 2012. While this facility was initially available until December 31, 2013 and thereafter till March 31, 2015, the circular dated June 11, 2015 now extends this facility upto March 31, 2016.
ECB for low cost affordable housing projects
Pursuant to its circular dated June 11, 2015, the RBI has extended the facility of raising ECBs for low cost affordable housing projects for the financial year 2015-16. The circulars dated December 17, 2012 and June 24, 2013 permitted eligible borrowers to raise ECB for low cost affordable housing projects under the approval route.
For further information, please contact:
Abhishek Saxena, Partner, Phoenix Legal
abhishek.saxena@phoenixlegal.in
