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Other Terms and Conditions

Apart from the maturity and end-use requirements given above, the f~ terms and conditions  of each f;CB proposal are required to be  reasonable and market related. The choice of sourcing the ECB currency of t1}e loan and the interest rate basis (i.e. floating or fixed) is left to  he borrowers.

Security

The choice of security to be provided to the lenders suppliers is also left to the borrowers. However,  where the security is in the form of a  guarantee from an Indian financial institution or from. an Indian scheduled commercial bank, counter-guarantee. or confirmation of the  guarantee by a   foreign bank foreign institution is not permitted.

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