External Commercial Borrowings (ECB) – Reporting arrangements

8/12/2019 External Commercial Borrowings (ECB) Reporting arrangements

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RESERVE BANK OF INDIAForeign Exchange Department

Central OfficeMumbai - 400 001

RBI/2013-14/495

A. P. (DIR Series) Circular No. 105 February 17, 2014

To

All Category-I Authorised Dealer Banks

Madam / Sir,

External Commercial Borrowings (ECB) Report ing arrangements

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign

Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000,notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, as amended from time to

time and A.P. (DIR Series) Circular No.60 dated January 31, 2004 relating to reporting

arrangements for ECB.

2. In order to capture details of the financial hedges contracted by corporates, of their foreign

currency exposure relating to ECB and their foreign currency earnings and expenditure, the

format of ECB-2 Return has been modified (Part-E) and the same has been given in the

Annex. The reporting in the modified ECB-2 Return will be applicable from the return of the

month April 2014 onwards.

3. There is no change in the reporting procedure and corporates raising ECB continue to

submit ECB-2 Return on a monthly basis duly certified by the designated AD Category-I bank

so as to reach Department of Statistics and Information Management (DSIM) of Reserve

Bank of India within seven working days from the close of month to which it relates.

4. AD Category - I banks may bring the contents of this circular to the notice of their

constituents and customers.

5. The directions contained in this circular has been issued under sections 10(4) and 11(2) 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
http://rbi.org.in/Scripts/NotificationUser.aspx?Id=1457&Mode=0http://rbi.org.in/Scripts/NotificationUser.aspx?Id=1457&Mode=0


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Annex

ECB 2

ReportingofactualtransactionsofExternalCommercialBorrowings(ECB)

underForeignExchangeManagementAct,1999

(forallcategoriesandanyamountofloan)

Returnforthemonthof___________________

1. Thisreturn

should

be

filled

in

for

all

categories

of

ECB.

It

should

be

submitted

within

7working

days

from the close of the month through the designated Authorised Dealer CategoryI bank to the

Director, Department of Statistics and Information Management (DSIM), Balance of Payments

StatisticsDivision,ReserveBankof India,C8/9,BandraKurlaComplex,Bandra (East),Mumbai400

051.Ifthereisnotransactionduringaparticularperiod,aNilreturnshouldbesubmitted.

2. Pleasedonot leaveanycolumnblank. Furnishcompleteparticularsagainsteach item. Incasean

itemisnotapplicable,writeN.A.againstit.

3. AlldatesshouldbeinformatYYYY/MM/DD(e.g.,2014/04/21forApril21,2014).

4. BorrowersobtainingsubloansthroughDFIs/Banks/NBFCsetc.shouldnotcompletethisformasthe

concernedfinancialinstitutionwoulddirectlysubmitECB2.

5. The Company Secretary / Chartered Accountant must scrutinise related original documents and

ensurethat

the

return

is

complete

and

in

order

as

per

ECB

guidelines

issued

by

Government/RBI,

beforeforwardingittoRBI.

6. LoanRegistrationNumbershouldbespecifiedforalltheloansapprovedafterFebruary01,2004.For

earlier loans, Loan Identification Number (LIN) / Registration Number allotted by RBI should be

specified.

7. Ifspaceisnotsufficientforgivingfullinformationagainstanyitem,aseparatesheetmaybeattached

tothereturnandseriallynumberedasAnnex.

8. FollowingpurposecodesforuseinPartC(Utilisation).

Code Description Code Description

IC Importofcapitalgoods PT Ports

IN Importofnoncapitalgoods IS Industrialparks

RLLocalsourcingofcapitalgoods(Rupee

expenditure)UI Urbaninfrastructure

RC WorkingCapital(Rupeeexpenditure) OI OverseasInvestment inJV/WOS

SL Onlendingorsublending IT DevelopmentofIntegratedTownship

RP RepaymentofearlierECB DI PSUDisinvestment

IP Interestpayments TS Textile/SteelRestructuringPackage

HA Amountheldabroad MF MicroFinanceActivity

NP Newproject OT Others(Pl.specify)

MEModernisation/Expansionofexisting

unitsER Mining,ExplorationandRefining

PW

Power

CS

Coldstorage

or

cold

room

facility

TL Telecommunication CI Interestduringconstruction

RW Railways RR Refinancingofrupeeloans

RD Roads RB RedemptionofFCCBs

9. FollowingcodesforuseinPartD(DebtServicing)forsourceofremittance:

Code Description

A RemittancefromIndia

B Accountheldabroad

C Exportproceedsheldabroad

D

Conversionof

equity

capital

E Others(Specify)


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PartA:LoanIdentificationParticulars

LoanRegistrationNumber(LRN)

LoanAmount BorrowerParticulars

Currenc

y

Amount

AsperAgreement

Revised (pleaseindicateifperiodof

disbursementelapsed/cancelled/

nottobedrawninfuture)

NameandaddressoftheBorrower (Block

Letters)

ContactPerson'sName:

Designation:

PhoneNo. :

Faxno. :

EmailID :

PartB:Disbursement

B.1:Drawdown(Disbursement)duringthemonth(inloancurrency):

Particulars Date(YYYY/MM/DD)

Currency Amount NameofBank/branch AccountNo.

A.Amount

ParkedAbroad

B.Amount

Remittedto

India NotRequired

Notes:1.Inthecaseofimportofgoodsorservices,dateofimportmaybefurnishedagainstdateofdrawdown.

2.Inthecaseoffinancialleasedateofacquisitionofthegoodsistobementionedasdateofdrawdown.

3.Inthecaseofsecuritisedinstruments,dateofissuemaybeshownasdateofdrawdown

4. Inthecaseofmulticurrencyloanaseparateblock(s)maybeattachedtothereturn

B.2:Balanceamountofloantobedrawninfuture:

IfmorethanoneequalinstallmentExpectedDateof

drawdown

Currency Amount

Totalnumber

ofdrawals

No.ofdrawalsina

calendaryear

PartC:Utilisation

C.1:Detailsofutilisationofdrawdowns(onlyprincipalamount)duringthemonth:

Particulars Date Purpose

code

*

Currency Amount Country Nameof

Bank

AccountNo.

From Amount

HeldAbroad

From Amount

Remitted to

India NotRequired

*Codesaspernote8onpage1.

C.2:Outstandingbalanceamount(principalonly)parkedabroad:

Particulars Date Currency Amount Nameofbankandbranch AccountNo.

asatmonthend


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PartD:DebtServicing

D.1:Principalrepayment,interestpaymentetc.duringthemonth(inloancurrency):

Tranche

No.

Purpose Dateof

Remittance

Currency Amount Code*for

Sourceof

remittance

Whether

Prepayment

ofPrincipal

(Y/N)#

PrincipalRepayment@

Interest@rate

Others(Specify)

* Codesaspernote9onpage1.

# IncaseofprepaymentpleaseprovidedetailsofAutomatic/ApprovalRoute No.,Date,AmountasAnnex.

@IncaseofconversionofFCCB/ECBintoequity,Buyback/Redemption ofoutstandingFCCBorwriteoffofECBprincipal

amount,thetransactionsstilltobeshownagainstPrincipalRepaymentwithappropriateremarks.

D.2:RevisedPrincipalRepaymentSchedule(ifrevised/enteredintointerestrateswap):

Ifmorethanoneequalinstallments

Date(YYYY/MM/DD)

(Firstrepaymentdate)

Currency AmountinLoan

Currencyineach

transactions

Total

Numberof

installments

No.ofpaymentsina

calendaryear

(1,2,3,4,6,12)

Annuity

Rate

(ifannuity

payment)

PartE:Others

E.1DetailsofFinancialHedgeContracted(ifany):

Details Type Currency

Swap

Forward Options Others Totalamount InterestRate

Swap

FCy RupeePrincipal

FCy FCy

FCy RupeeCoupon

FCyFCy

FCyForeignCurrency

E.2DetailsofForeignExchangeEarningsandExpenditure(ifany):

Averageannualamount (approximate) for last three financialyears (tobe reported inanyone foreign

currency):

Financial

Year

Currency ForeignCurrencyEarnings ForeignCurrencyExpenditure

_______

________

________


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PartF:OutstandingPrincipalAmount

OutstandingloanAmount(inLoanCurrency):(i.e.,totaldrawdownlesstotalrepaymentsatmonthend)Currency Amount

Weherebycertifythattheparticularsgivenabovearetrueandcorrecttothebestofourknowledgeand

belief.Nomaterialinformationhasbeenwithheldand/ormisrepresented.

Place:___________

Date :___________

[Stamp] ___________________________________

SignatureofAuthorisedOfficialofborrowing

company

Name:______________________________

Designation:_________________________

TelephoneNo.:_______________________

Certificatefrom

Company

Secretary

/Chartered

Accountant

Wehereby certify that the ECB availed in termsof approval grantedbyGovernmentorRBIorunder

approvalroute/automaticrouteisdulyaccountedinthebooksofaccounts. Further,ECBproceedshave

beenutilisedbytheborrowerforthepurposeof____________________________________. Wehave

verifiedalltherelateddocumentsandrecordsconnectedwiththeutilisationofECBproceedsandfound

thesetobeinorderandinaccordancewiththetermsandconditionsoftheloanagreementandwiththe

approvalgrantedbyGoI(MoF)orRBIorunderapprovalroute/automaticrouteandisinconformitywith

theapplicableECBGuidelines.

AuthorisedSignatory:____________________________

Name&Address:__________________________________

Place:_____________

Registration

No.

:__________________________________

Date :_____________ [Stamp]

__________________________________________________________________________________

CertificatebyanAuthorisedDealer

Weherebycertify that the information furnishedabovewith regard todebtservicing,outstandingand

repaymentschedule istrueandcorrectasperourrecord.Thedrawal,utilisationandrepaymentofthe

ECBhavebeenscrutinisedand it iscertifiedthatsuchdrawal,utilisationandrepaymentsofECBare in

compliancewithECBguidelines

__________________________________

SignatureofAuthorisedDealer

[Stamp]

Place:______________ Name :

_________________________________

Date :______________ Designation:

___________________________________

TelephoneNo.:________________ Name&AddressofAuthorisedDealer:

______________ EmailID:

______________________________________

External Commercial Borrowings (ECB) – Reporting arrangements

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