ECB Refinancing/Rescheduling Rules Extended Till Sep 30, 2013
Current · Source: Reserve Bank of India · RBI/2013-14/133 · issued 11 Jul 2013 · ~1 min read
Quick answerRBI has extended the validity of existing ECB refinancing/rescheduling instructions until September 30, 2013. All other ECB policy terms remain unchanged. AD Category-I banks must inform customers.
The rule, in the simplest words
AD Category-I banks must inform their customers about the extension of ECB refinancing/rescheduling instructions.
Banks can continue to process ECB refinancing/rescheduling applications as per existing guidelines.
The RBI will review ECB refinancing/rescheduling instructions after September 30, 2013.
Rahul, a forex & trade-finance officer in Indore, informed his customers about the extension of ECB refinancing/rescheduling instructions, ensuring they were aware of the temporary regulatory stability for ongoing ECB restructuring deals. He then continued to process ECB refinancing/rescheduling applications as per existing guidelines, following the RBI's instructions. Rahul monitored RBI announcements for any review after September 30, 2013, to ensure compliance with all ECB policy aspects.
What changed
The instructions from A.P. (DIR Series) Circular No. 112 dated April 20, 2012, which were set to expire, have been extended. They will now remain applicable until September 30, 2013, after which RBI will review them again.
What it means for you
Banks and borrowers can continue to refinance or reschedule existing ECBs under the same terms as before for another three months. This provides temporary regulatory stability for ongoing ECB restructuring deals. No new conditions or relaxations have been introduced.
What you must do
Inform all customers about the extension of ECB refinancing/rescheduling instructions till September 30, 2013.
Continue processing ECB refinancing/rescheduling applications as per existing guidelines.
Monitor RBI announcements for any review after September 30, 2013.
Ensure compliance with all other unchanged ECB policy aspects.
Who it affects
AD Category-I banks, Indian borrowers with existing ECBs, Lenders involved in ECB refinancing/rescheduling
❓ Common questions
What is the key change in this circular?
The circular extends the validity of earlier ECB refinancing/rescheduling instructions until September 30, 2013. No other changes have been made to ECB policy.
Do I need to apply for fresh approval for refinancing under this extension?
No, the circular simply extends the timeline for existing instructions. You can continue to use the same framework without needing new approvals, provided you meet all other conditions.
What happens after September 30, 2013?
RBI will review the instructions again after that date. Banks should stay alert for further circulars that may modify or replace the current framework.
📜 Read the original circular — full text as issued by RBI
RBI/2013-14/133
A.P. (DIR Series) Circular No.10
July 11, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy –
Refinancing / Rescheduling of ECB
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 112 dated April 20, 2012 relating to ECB.
2. On a review, it has been decided that the instructions contained in the above mentioned circular will continue to be applicable till September 30, 2013 and is subject to review thereafter.
3. All other aspects of ECB policy remain unchanged and AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers.
4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully
(Rudra Narayan Kar)
Chief General Manager-in-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/133 · issued 11 Jul 2013. The plain-English explanation above is BankPulse’s own independent summary.
Continue processing ECB refinancing/rescheduling applications as per existing guidelines.
📜 Compliance
Inform all customers about the extension of ECB refinancing/rescheduling instructions till September 30, 2013.
Monitor RBI announcements for any review after September 30, 2013.
Ensure compliance with all other unchanged ECB policy aspects.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (AD Category-I banks, Indian borrowers with existing ECBs, Lenders involved in ECB refinancing/rescheduling), your first concrete step on “ECB Refinancing/Rescheduling Rules Extended Till Sep 30, 2013” is: “Inform all customers about the extension of ECB refinancing/rescheduling instructions till September 30, 2013.” (RBI issued this 11 Jul 2013).
Action required: Inform all customers about the extension of ECB refinancing/rescheduling instructions till September 30, 2013.
Action required: Continue processing ECB refinancing/rescheduling applications as per existing guidelines.
Action required: Monitor RBI announcements for any review after September 30, 2013.
Action required: Ensure compliance with all other unchanged ECB policy aspects.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8230&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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