The revised framework also includes a more liberal approach for rupee-denominated ECBs where the currency risk is borne by the lender.

1.The guidelines also allow 'raising of limit for small value external commercial borrowings (ECBs) with minimum average maturity of 3 years to USD 50 million from the existing USD 20 million'.

2.The central bank further said that the policy was liberalised in consultation with the government, keeping in view the macro-economic developments and experience gained in administering the ECB regime over the last 10 years.

3.The revised rule will also allow for alignment of the list of infrastructure entities eligible for ECB with the
harmonised list of government.

4.The guidelines will be reviewed after one year based on the experience and evolving macro-economic situation, it said.

5.The central bank has formed three tracks under the revised framework.

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