RBI Update – Reporting under Foreign Exchange Management Act, 1999 – Returns pertaining to External Commercial Borrowing (ECB)

The Reserve Bank of India has amended the reporting framework for External Commercial Borrowings (ECB) pursuant to the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026 dated February 09, 2026 (published on February 16, 2026). Accordingly, Part V – Annex I and Part V – Annex II of the Master Direction – Reporting under Foreign Exchange Management Act, 1999 stand substituted with the revised formats of Form ECB 1 (Revised) and Form ECB 2 as enclosed with the circular. Authorised Persons have been advised to inform their concerned customers/constituents and ensure compliance. The directions have been issued under Sections 10(4), 11(1) and 11(2) of the Foreign Exchange Management Act, 1999 and come into force with immediate effect.Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=13308&Mode=0