ECB by IFC now under Automatic route UPTO 50% of owned funds, RBI

As a measure of liberalisation of the existing procedures, it has been decided to permit the IFCs to avail of ECBs, including the outstanding ECBs,

• up to 50% of owned funds under the automatic route, subject to their compliance with the prudential guidelines already in places.
• above 50% of their owned funds would require the approval of the Reserve Bank and will, therefore, be considered under the approval route.

Source: A. P. (DIR Series) Circular No. 51 dated 11th May 2010