
US $ 1.5 billion decision
ECBs are foreign loans taken for commercial purposes by a valid entity in India. “It has now been decided to temporarily increase the limit under the automatic route from USD 750 million or its equivalent to USD 1.5 billion per financial year,” the RBI release said.

CRR (4.5%) and SLR (18%)
“All cost limits under ECBs are also being raised by 100 basis points, subject to investment-grade rating of the borrower. The above exemptions are available till December 31, 2022. Bank loans, floating/fixed rate notes/bonds/ Loans including debentures (other than wholly and compulsorily convertible instruments), trade credit of more than three years, foreign currency convertible bonds (FCCBs) and issue of foreign currency exchangeable bonds (FCEBs) and financial leases are forms of ECB permitted by RBI. In addition, all Foreign Currency Non-Residents (Banks) banks are required to calculate Net Demand and Fixed Liabilities (NDTL) for maintenance of CRR. [एफसीएनआर (बी)] and Non-Resident (External) Rupee (NRE) deposit liabilities are required to be included. CRR (4.5%) and SLR (18%).

Exemption in maintenance of CRR and SLR to NRE deposits
RBI said, “It has been decided that incremental FCNR(B) with effect from the reporting fortnight beginning July 30, 2022 and NRE deposits with reference base date of July 1, 2022 shall be exempted from maintenance of CRR and SLR.” “
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