Circular No.ES/160 / 2016-17 October 28, 2016
To: Members of the Council
Sub: External Commercial Borrowings (ECB) by Startups
Dear Member,
This is to inform you that the Reserve Bank of India (RBI) has issued Circular No. RBI/2016-17/103 dated 27.10.2016 regarding the External Commercial Borrowings by Startups.
In this connection, attention is invited to the Fourth Bi-monthly Monetary Policy Statement for the year 2016-17 released on October 04, 2016 by RBI for permitting Startup enterprises to access loans under ECB framework. Also, RBI has decided, in consultation with the Government of India to permit Authorised Dealer Category- I banks to allow Startups to raise ECB under the framework given in the above Circular.
Members may kindly make note of the above.
Thanking you,
V. ANIL KUMAR
EXECUTIVE DIRECTOR
