ECB for Civil Aviation Sector
IN terms of paragraph 2 (iii) of the Circular No. 113 dated April 24, 2012 the External Commercial Borrowings for working capital for civil aviation sector was required to be raised within twelve (12) months from the date of issue of the circular.
That period is already over.
The RBI has reviewed the instructions and has now decided that the scheme of availing of ECB for working capital for civil aviation sector will continue till December 31, 2013.
Circular No. 116/RBI., Dated: June 25, 2013