The Foreign Exchange Management Act, 1999 reporting framework for External Commercial Borrowings (ECB) has been revised pursuant to the recent circular effective April 1, 2026, whereby Forms ECB 1 and Revised ECB 1 are now classified as non-flow returns with Late Submission Fee (LSF) computed accordingly, while each delayed Form ECB 2 submission under a Loan Registration Number will attract a separate LSF instance; further, Authorised Dealer Category I banks are required to submit duly certified ECB returns to the Reserve Bank of India within seven calendar days of receipt, ensure LSF payments (where applicable) are made via NEFT/RTGS post RBI acknowledgment, and actively monitor compliance by borrowers in case of delayed filings.
Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=13345&Mode=0
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