Foreign Exchange (Borrowing and Lending) Regulations, 2026
Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026
The Reserve Bank of India has notified the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026, introducing several reforms to the External Commercial Borrowing (ECB) regime.
The revised framework broadens the categories of eligible borrowers and recognised lenders, streamlines borrowing limits and average maturity norms, removes earlier caps related to borrowing costs, revisits permitted end-uses, and makes reporting procedures simpler.
These amendments follow a review of stakeholder suggestions on the draft rules that were earlier placed in the public domain through a press release dated 3 October 2025. The central bank has also outlined its position on key feedback points in an annexure to the notification.
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