This regulatory bulletin provides a disclaimer that the information presented is subject to change and is not intended as professional or financial advice. It then summarizes a recent amendment to India's External Commercial Borrowings (ECB) policy. The amendment relaxes previous end-use restrictions to now allow resolution applicants under the Corporate Insolvency Resolution Process (CIRP) to raise ECBs from recognized lenders, except Indian bank branches/subsidiaries, for repaying rupee term loans of the target company. All other ECB policy provisions remain unchanged. Notified banks must make constituents and customers aware of the amended policy, which takes immediate effect. A resolution applicant submits a revival plan for an insol