Outline the reporting requirements under External Commercial Borrowing (ECB) reporting framework.

Reporting Requirements under External Commercial Borrowings (ECB) Reporting Framework Borrowings under ECB Framework are subject to following reporting requirements apart from any other specific reporting required under the framework: Loan Registration Number (LRN): Any draw-down in respect of an ECB should happen only after obtaining the LRN from the Reserve Bank. To obtain the LRN, borrowers are required to submit duly certified Form ECB, which also contains terms and conditions of the ECB, in duplicate to the designated AD Category I bank. In turn, the AD Category I bank will forward one copy to the Reserve Bank of India. However, copies of loan agreement for raising ECB are not required to be submitted to the Reserve Bank. Changes in terms and conditions of ECB: Changes in ECB parameters in consonance with the ECB norms, including reduced repayment by mutual agreement between the lender and borrower, should be reported to the RBI through revised Form ECB at the earliest, in any case not later than 7 days from the changes effected. While submitting revised Form ECB the changes should be specifically mentioned in the communication. Monthly Reporting of actual transactions: The borrowers are required to report actual ECB transactions through Form ECB 2 Return through the AD Category I bank on monthly basis so as to reach Department of Statistics and Information Management (DSIM) within seven working days from the close of month to which it relates. Changes, if any, in ECB parameters should also be incorporated in Form ECB 2 Return. Late Submission Fee (LSF) for delay in reporting: Any borrower, who is otherwise in compliance of ECB guidelines, can regularize the delay in reporting of draw-down of ECB proceeds before obtaining LRN or delay in submission of Form ECB 2 returns, by payment of late submission fees. Standard Operating Procedure (SOP) for Untraceable Entities: The required SOP has to be followed by designated AD Category-I banks in case of untraceable entities who are found to be in contravention of reporting provisions for ECBs by failing to submit prescribed return(s) under the ECB framework, either physically or electronically, for past eight quarters or more.