Extension of time for External Commercial Borrowings (ECB) for Civil Aviation Sector for working capital facilities up to 31 Dec 2013

Extension of time for External Commercial Borrowings (ECB) for Civil Aviation Sector for working capital facilities up to 31 Dec 2013

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the A.P. (DIR Series) Circular No. 113 dated April 24, 2012 on the captioned subject.

2. In terms of paragraph 2 (iii) of the aforesaid circular, the ECB for working capital for civil aviation sector should be raised within twelve (12) months from the date of issue of the circular. On a review, it has now been decided that the scheme of availing of ECB for working capital for civil aviation sector will continue till December 31, 2013.