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RBIRBI and FEMAECB 1

ECB 1 (loan registration number and ECB changes)

The form used to register an external commercial borrowing before draw-down and to report later changes in its terms.

How this is timed

Standing duty, no filing date

Regulator
RBI
Category
RBI and FEMA
Form
ECB 1
Last verified
2026-09-01
Read statutory basis

Submit Form ECB 1 and obtain the loan registration number before the first draw-down. Report a later change in ECB parameters through Revised Form ECB 1 within seven days of the change. RBI renamed Form ECB and Revised Form ECB in February 2026; Form 83 is abolished.

What changed

A.P. (DIR Series) Circular No.23 of 18 February 2026 renamed Form ECB as Form ECB 1. From 1 April 2026, the LSF matrix treats Form ECB 1 and Revised Form ECB 1 as returns that do not capture flows.

Deadlines counted from an event

These have no calendar date. The clock starts when the event happens.

Standing duty

Submit Form ECB 1 through the AD Category I bank and obtain the loan registration number before the first draw-down.

Change in ECB parametersfrom change in the external commercial borrowing parameters

Submit Revised Form ECB 1 not later than seven days from the change.

The rule

Stated as the law states it, so you can work out any period yourself.

Registration before first draw-down

Submit Form ECB 1 through the AD Category I bank and obtain the loan registration number before the first draw-down.

Change in ECB parameters

Submit Revised Form ECB 1 not later than seven days from the change.

Who must comply

  • An eligible Indian borrower that enters into an external commercial borrowing
  • An ECB borrower whose registered borrowing parameters change

Statutory basis

Read the provision here where we hold it, or on the regulator's site.

Before you file

  • Arrange the external commercial borrowing through an AD Category I bank.
  • Prepare the borrower, lender and borrowing details required by Form ECB 1.
  • Obtain the loan registration number before the first draw-down.

How to file

  1. 1Give Form ECB 1 to the AD Category I bank before the first draw-down.
  2. 2Wait for RBI to allot the loan registration number.
  3. 3Do not draw down the borrowing before the number is allotted.
  4. 4Give Revised Form ECB 1 to the bank within seven days after a parameter changes.

Designated AD Category I bank

Recent changes affecting this

From the regulator's own circulars and notifications.

rbi02 Sept 2026Press release

Data on Forex Inflows via FCNR(B) Deposits, ECBs and OFCBs

The Reserve Bank of India provides data on foreign exchange inflows under its special USD-INR swap facility. This facility covers FCNR(B) deposits, External Commercial Borrowings, and Overseas Foreign Currency Borrowings. The scheme closed for FCNR(B) deposits on August 31, 2026. The scheme remains open for External Commercial Borrowings and Overseas Foreign Currency Borrowings until December 31, 2026. Authorised Dealer Banks report these figures. The total reported inflow as of August 31, 2026, is 136,377 million USD. This figure remains provisional pending final reconciliation.

rbi22 Aug 2026Press release

Data on Forex Inflows via FCNR(B) Deposits, ECBs and OFCBs

The Reserve Bank of India provides data on foreign exchange inflows under its special USD-INR swap facility. This facility covers FCNR(B) deposits, External Commercial Borrowings, and Overseas Foreign Currency Borrowings. Authorised Dealer Banks report these inflows. The scheme remains open for FCNR(B) deposits until August 31, 2026. The scheme remains open for External Commercial Borrowings and Overseas Foreign Currency Borrowings until December 31, 2026. Total inflows under this facility reach 72,848 million USD as of August 21, 2026.

rbi14 Aug 2026Press release

Forex Inflows via FCNR(B) Deposits, External Commercial Borrowings and Overseas Foreign Currency Borrowings

The Reserve Bank of India restricts the special USD-INR Forex Swap facility for FCNR(B) deposits. Banks must mobilize these deposits by August 31, 2026. Banks must avail the swaps with the Reserve Bank of India by September 11, 2026. The swap facility for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains open until December 31, 2026. This update follows the initial introduction of the swap facility on June 08, 2026.

rbi01 Aug 2026Press release

Reporting of FCNR(B) Deposits, External Commercial Borrowings and Overseas Foreign Currency Borrowings Mobilized under Reserve Bank Swap Facility

The Reserve Bank of India has reported the total forex inflows mobilized under its concessional swap facility as of July 31, 2026. The facility, which was announced on June 5, 2026, and operationalized on June 8, 2026, has attracted a total of USD 40,816 million. This includes USD 36,725 million in FCNR(B) deposits, USD 2,575 million in Overseas Foreign Currency Borrowings (OFCBs), and USD 1,516 million in External Commercial Borrowings (ECBs). The facility remains available for FCNR(B) deposits until September 30, 2026, and for OFCBs and ECBs until December 31, 2026.

rbi20 Jul 2026Press release

Reporting of FCNR(B) Deposits, External Commercial Borrowings and Overseas Foreign Currency Borrowings Mobilized Under Reserve Bank Swap Facility

The Reserve Bank of India has reported the status of foreign exchange inflows mobilized under its concessional swap facility, which was announced on June 5, 2026, and operationalized on June 8, 2026. As of July 17, 2026, the facility has attracted a total of USD 20,718 million, consisting of FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCBs), and External Commercial Borrowings (ECBs). The facility remains available for FCNR(B) deposits until September 30, 2026, and for OFCBs and ECBs until December 31, 2026.

rbi08 Jun 2026Notification

Swap Facility for External Commercial Borrowings and Overseas Foreign Currency Borrowings

The Reserve Bank of India introduces a US Dollar-Rupee Forex Swap Facility for specific External Commercial Borrowings and Overseas Foreign Currency Borrowings. Eligible entities include Public Sector Undertakings for borrowings with a minimum three-year maturity and Authorised Dealer Category-I banks for borrowings with a minimum three-year maturity. The facility allows banks to sell US Dollars to the Reserve Bank of India and buy them back at a fixed rate of 1.5 percent per annum. The swap tenor matches the borrowing maturity up to a maximum of five years. Banks must submit a declaration to the Financial Markets Operations Department to confirm eligibility. The facility remains open until January 15, 2027, for qualifying inflows received by December 31, 2026.

Common questions

Is the registration form still called Form ECB?

No. It became Form ECB 1 in February 2026. Revised Form ECB became Revised Form ECB 1 at the same time.

Does Form 83 still apply?

No. The current Reporting Master Direction lists Form ECB 1, Revised Form ECB 1, Form ECB 2 and Form TC. It does not list Form 83.

Last verified 2026-09-01. Confirm against the official source before you rely on it.