FEMA Borrowing & Lending Regulations 2018 vs Draft Amendment 2025
Provision ECB 2018 Draft ECB 2025 Amendment 1. Eligible borrowers A person resident in India (other than an individual) incorporated, established or registered under a Central Act or State Act may raise ECB, subject to the condition that it is permitted to borrow in terms of the applicable laws. Clarifies- (1) An eligible borrower under a restructuring scheme or CIRP may raise ECB only if plan permits. (2) An eligible borrower under pending investigation/adjudication/appeal may raise ECB, must disclose to designated AD, which informs agencies. 2. Recognised lenders An eligible borrower may raise ECB from: - A person resident outside India; - A branch outside India or in IFSC of entity whose lending business is regulated by RBI. No major change; includes branches in IFSC and regulated lenders 3. Cur...