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

The RBI has amended the External Commercial Borrowing (ECB) Framework through the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026, dated February 09, 2026 (published on February 16, 2026).

Pursuant to this amendment, the reporting requirements under the Master Direction – Reporting under FEMA, 1999 have been revised. Accordingly, the prescribed return forms relating to ECB have been modified to align with the updated regulatory framework. Kindly refer to the attached Notifications for your reference.