External Commercial Borrowings (ECB) Policy –
Liberalisation of definition of Infrastructure Sector
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the Notification No. FEMA.281/2013-RB dated July 19, 2013 published in the Gazette of India vide G.S.R. No. 627 (E) dated September 12, 2013 and to the A.P. (DIR Series) Circular No. 48 dated September 18, 2013
in terms of which definition of infrastructure sector for the purpose
of raising ECB was expanded taking into account the Harmonised Master
List of Infrastructure sub-sectors and Institutional Mechanism for its
updation approved by Government of India vide Notification
F.No.13/06/2009-INF dated March 27, 2012.
2. On a review, it has been decided that, for the purpose of
ECB, ‘Maintenance, Repairs and Overhaul’ (MRO) will also be treated as a
part of airport infrastructure. Accordingly, MRO, as distinct from the
related services which are other than infrastructure, will be
considered as part of the sub-sector of Airport in the Transport Sector
of Infrastructure.
3. All other aspects of ECB policy shall remain unchanged.
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