"ECBs are commercial loans raised by eligible resident entities from recognised non-resident entities and should conform to parameters such as minimum maturity, permitted and non-permitted end-uses, maximum all-in-cost c

Three tracks for raising loans through ECB: Track I: Medium term foreign currency denominated ECB with minimum average maturity of 3/5 years. Track II: Long term foreign currency denominated ECB with minimum average maturity of 10 years. Track III: Indian Rupee (INR) denominated ECB with minimum average maturity of 3/5 years. Various types of ECB: ECBs can be raised as: Loans, e.g., bank loans, loans from equity holder, etc. Capital market instruments, e.g. Securitized instruments (e.g. floating rate notes / fixed rate bonds / non-convertible, optionally convertible or partially convertible preference shares/debentures) FCCB FCEB Buyers' credit / suppliers' credit. Financial lease. However, ECB framework is not applicable in respect of the investment in non-convertible debentures (NCDs) in India made by Registered Foreign Portfolio Investors (RFPIs).