What changed
RBI rationalised Form-83, the application for obtaining a Loan Registration Number (LRN) under ECB regulations. The revised format, effective July 1, 2012, incorporates prior liberalisation and rationalisation measures. An illustration for calculating average maturity period has been added as guidance.
What it means for you
Borrowers must use the updated Form-83 from July 1, 2012, for new LRN applications. All other ECB rules—eligible borrower, recognised lender, end-use, all-in-cost, average maturity, prepayment, refinancing, and reporting—stay the same. AD Category-I banks need to update their internal forms and customer guidance accordingly.
What you must do
- Replace existing Form-83 templates with the revised format from Annex I of the circular.
- Advise customers to use the new Form-83 for LRN applications on or after July 1, 2012.
- Ensure staff are aware that all other ECB conditions remain unchanged.
- Communicate the circular's contents to constituents and customers as directed.
Who it affects
All Category-I Authorised Dealer Banks, Borrowers applying for ECB Loan Registration Number, AD banks' ECB processing teams
When does the revised Form-83 become mandatory?
From July 1, 2012, all borrowers seeking a Loan Registration Number must submit the revised Form-83 format provided in Annex I of the circular.
Do any other ECB conditions change with this circular?
No. All other conditions—eligible borrower, recognised lender, end-use, all-in-cost, average maturity, prepayment, refinancing, and reporting—remain unchanged.
What is the purpose of the new illustration in Annex II?
Annex II provides a sample calculation of average maturity period to help borrowers correctly compute it when filling the revised Form-83.