Unutilised ECB proceeds drawn down on or before March 01, 2020 can be parked in term deposits up to March 01, 2022

With a view to providing relief to the ECB borrowers affected by the Covid-19 pandemic, the RBI has been decided to relax the above stipulation as a one-time measure. Accordingly, unutilised ECB proceeds drawn down on or before March 01, 2020 can be parked in term deposits with AD Category-I banks in India prospectively for an additional period up to March 01, 2022.With a view to providing relief to the ECB borrowers affected by the Covid-19 pandemic, the RBI has been decided to relax the above stipulation as a one-time measure. Accordingly, unutilised ECB proceeds drawn down on or before March 01, 2020 can be parked in term deposits with AD Category-I banks in India prospectively for an additional period up to March 01, 2022.taxmann.com Latest Statutory HappeningsRead More

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