RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai - 400 001 RBI/2013-14/495 A. P.

(DIR Series) Circular No. 105

To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Reporting 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.

February 17, 2014

Yours faithfully,

(Rudra Narayan Kar) Chief General Manager-in-Charge

Annex

ECB2
ReportingofactualtransactionsofExternalCommercialBorrowings(ECB) underForeignExchangeManagementAct,1999 (forallcategoriesandanyamountofloan)

Returnforthemonthof___________________

1. This return should be filled in for all categories of ECB. It should be submitted within 7 working 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 Statistics Division, Reserve Bank of India, C8/9, BandraKurla Complex, Bandra (East), Mumbai400 051.Ifthereisnotransactionduringaparticularperiod,aNilreturnshouldbesubmitted. 2. Please do not leave any column blank. Furnish complete particulars against each item. In case an itemisnotapplicable,writeN.A.againstit. 3. AlldatesshouldbeinformatYYYY/MM/DD(e.g.,2014/04/21forApril21,2014). 4. Borrowers obtaining subloans through DFIs/Banks/NBFCs etc. should not complete this form as the concernedfinancialinstitutionwoulddirectlysubmitECB2. 5. The Company Secretary / Chartered Accountant must scrutinise related original documents and ensure that the return is complete and in order as per ECB guidelines issued by Government/RBI, beforeforwardingittoRBI. 6. Loan Registration Number should be specified for all the loans approved after February 01, 2004. For earlier loans, Loan Identification Number (LIN) / Registration Number allotted by RBI should be specified. 7. Ifspaceisnotsufficientforgivingfullinformationagainstanyitem,aseparatesheetmaybeattached tothereturnandseriallynumberedasAnnex. 8. FollowingpurposecodesforuseinPartC(Utilisation).

Code
IC IN RL RC SL RP IP HA NP ME PW TL RW RD

Description
Importofcapitalgoods Importofnoncapitalgoods Localsourcingofcapitalgoods(Rupee expenditure) WorkingCapital(Rupeeexpenditure)
Onlendingorsublending

Code Description
PT IS UI OI IT DI TS MF OT ER CS CI RR RB Ports Industrialparks Urbaninfrastructure
OverseasInvestmentinJV/WOS

RepaymentofearlierECB Interestpayments Amountheldabroad Newproject Modernisation/Expansionofexisting units Power Telecommunication Railways Roads

DevelopmentofIntegratedTownship PSUDisinvestment Textile/SteelRestructuringPackage MicroFinanceActivity Others(Pl.specify) Mining,ExplorationandRefining Coldstorageorcoldroomfacility Interestduringconstruction Refinancingofrupeeloans RedemptionofFCCBs

9. FollowingcodesforuseinPartD(DebtServicing)forsourceofremittance:

Code
A B C D E

Description
RemittancefromIndia Accountheldabroad
Exportproceedsheldabroad Conversionofequitycapital

Others(Specify)

 PartA:LoanIdentificationParticulars

LoanRegistrationNumber(LRN)

AsperAgreement

LoanAmount Currenc y

Amount

BorrowerParticulars NameandaddressoftheBorrower(Block Letters) ContactPerson'sName: Designation: PhoneNo.: Faxno.: EmailID:

Revised(pleaseindicateifperiodof disbursementelapsed/cancelled/ nottobedrawninfuture)

PartB:Disbursement

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

Particulars A.Amount ParkedAbroad B.Amount Remittedto India

Date (YYYY/MM/DD)

Currency

Amount

NameofBank/branch

AccountNo.

NotRequired

Notes:1.Inthecaseofimportofgoodsorservices,dateofimportmaybefurnishedagainstdateofdrawdown. 2.Inthecaseoffinancialleasedateofacquisitionofthegoodsistobementionedasdateofdrawdown. 3.Inthecaseofsecuritisedinstruments,dateofissuemaybeshownasdateofdrawdown 4.Inthecaseofmulticurrencyloanaseparateblock(s)maybeattachedtothereturn

B.2:Balanceamountofloantobedrawninfuture: Amount ExpectedDateof Currency drawdown

Ifmorethanoneequalinstallment Totalnumber No.ofdrawalsina ofdrawals calendaryear

PartC:Utilisation C.1:Detailsofutilisationofdrawdowns(onlyprincipalamount)duringthemonth: Particulars Date Purpose Currency Amount Country code* From Amount HeldAbroad From Amount Remitted to India *Codesaspernote8onpage1.

Nameof Bank

AccountNo.

NotRequired

C.2:Outstandingbalanceamount(principalonly)parkedabroad: Particulars Date Currency Amount asatmonthend

Nameofbankandbranch

AccountNo.

PartD:DebtServicing

D.1:Principalrepayment,interestpaymentetc.duringthemonth(inloancurrency): Tranche Purpose Dateof Currency Amount No. Remittance

Code*for Sourceof remittance

Whether Prepayment ofPrincipal (Y/N)#

PrincipalRepayment@ Interest@rate Others(Specify) *Codesaspernote9onpage1. #IncaseofprepaymentpleaseprovidedetailsofAutomatic/ApprovalRouteNo.,Date,AmountasAnnex. @ In case ofconversion of FCCB/ECB intoequity, Buyback/Redemptionof outstanding FCCBor writeoff ofECBprincipal amount,thetransactionsstilltobeshownagainstPrincipalRepaymentwithappropriateremarks.

D.2:RevisedPrincipalRepaymentSchedule(ifrevised/enteredintointerestrateswap): Ifmorethanoneequalinstallments Date(YYYY/MM/DD) Currency AmountinLoan Total No.ofpaymentsina (Firstrepaymentdate) Currencyineach Numberof calendaryear transactions (1,2,3,4,6,12) installments

Annuity Rate (ifannuity payment)

PartE:Others E.1DetailsofFinancialHedgeContracted(ifany): Details Type Currency Forward Swap Principal FCyRupee FCyFCy Coupon FCyRupee FCyFCy

Options

Others

Totalamount

InterestRate Swap

FCyForeignCurrency

E.2DetailsofForeignExchangeEarningsandExpenditure(ifany):
Average annual amount (approximate) for last three financial years (to be reported in any one foreign currency):

Financial Year _______ ________ ________

Currency

ForeignCurrencyEarnings

ForeignCurrencyExpenditure

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

We hereby certify that the particulars given above are true and correct to the best of our knowledge and belief.Nomaterialinformationhasbeenwithheldand/ormisrepresented.

___________________________________ SignatureofAuthorisedOfficialofborrowing company Name:______________________________ Designation:_________________________ TelephoneNo.:_______________________ Place:___________ Date:___________ CertificatefromCompanySecretary/CharteredAccountant

[Stamp]

We hereby certify that the ECB availed in terms of approval granted by Government or RBI or under approvalroute/automaticrouteisdulyaccountedinthebooksofaccounts.Further,ECBproceedshave been utilised by the borrower for the purpose of ____________________________________. We have verified all the related documents and records connected with the utilisation of ECB proceeds and found thesetobeinorderandinaccordancewiththetermsandconditionsoftheloanagreementandwiththe approvalgrantedbyGoI(MoF)orRBIorunderapprovalroute/automaticrouteandisinconformitywith theapplicableECBGuidelines.

AuthorisedSignatory:____________________________ Name&Address:__________________________________ Place:_____________RegistrationNo.:__________________________________ Date:_____________ [Stamp] __________________________________________________________________________________ CertificatebyanAuthorisedDealer

We hereby certify that the information furnished above with regard to debt servicing, outstanding and repayment schedule is true and correct as per our record. The drawal, utilisation and repayment of the ECB have been scrutinised and it is certified that such drawal, utilisation and repayments of ECB are in compliancewithECBguidelines __________________________________ SignatureofAuthorisedDealer [Stamp] Place:______________ Name: _________________________________ Date:______________ Designation: ___________________________________ TelephoneNo.:________________ Name&AddressofAuthorisedDealer: ______________EmailID: ______________________________________