RBI Revises ECB Reporting Forms under FEMA
RBI Revises ECB Reporting Forms under FEMA – Effective Immediately (2026 Update)
The Reserve Bank of India (RBI) has introduced important changes to the reporting requirements for External Commercial Borrowings (ECB) under the Foreign Exchange Management Act, 1999 (FEMA).
These changes follow the notification of the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026 dated February 09, 2026, which was published in the Official Gazette on February 16, 2026. The amendment revises the existing ECB Framework, requiring corresponding updates in the reporting formats.
What Has Changed?
As part of the revised ECB framework:
- The RBI has updated the reporting formats for ECB returns.
- The revised formats replace the earlier versions prescribed under the Master Direction – Reporting under FEMA, 1999.
Revised Forms: The following annexures under the Master Direction have now been substituted:
- Part V – Annex I: Form ECB 1 / Revised Form ECB 1
- Part V – Annex II: Form ECB 2
Authorised Persons (AD Banks) must use these updated formats for ECB reporting with immediate effect.
Instructions for Authorised Persons: Authorised Persons are required to:
- Inform their customers and concerned constituents about these changes.
- Ensure compliance with the revised ECB reporting formats.
Legal Authority: These directions have been issued under Sections 10(4), 11(1), and 11(2) of the Foreign Exchange Management Act, 1999. The changes are applicable immediately and are without prejudice to any other approvals or permissions required under applicable laws.
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