Now , Hotel project total project cost of INR 250 crore or more avail ECB to repay their high Cost Rupee Loan or to incur fresh Rupee capital expenditure

Now , Hotel project total project cost of INR 250 crore or more avail ECB to repay their high Cost Rupee Loan or to incur fresh Rupee capital expenditure

As per the extant guidelines, Indian companies in the manufacturing and infrastructure sector (as defined under the extant ECB policy), which are consistent foreign exchange earners, are allowed to avail of ECBs for repayment of outstanding Rupee loan(s) availed of from the domestic banking system and / or for fresh Rupee capital expenditure.

On a review, it has been decided to include Indian companies in the hotel sector (with a total project cost of INR 250 crore or more), irrespective of geographical location as eligible borrowers under this scheme.

 

AD may certify the project cost at the time of forwarding the ECB application to the Reserve Bank.

 

REF:A.P. (DIR Series) Circular No.78 dated January 21, 2013