On February 16, 2026, the Reserve Bank of India issued the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026. These regulations rationalise the ECB framework by expanding the eligible borrower and recognised lender base, rationalising borrowing limits and restrictions on average maturity period, removing restrictions on the cost of borrowing for ECBs, reviewing end-use restrictions, and simplifying reporting requirements. The regulations were issued after considering feedback received from stakeholders on the draft regulations published on the Bank's website on October 03, 2025. The Bank's response to the major comments received are in the Annex. The press release number is 2025-2026/2127. Contact Brij Raj, Chief General Manager. The RBI website is www.rbi.org.in, and the email is helpdoc@rbi.org.in. The phone number is 022-2266 0502.
Key Entities Referenced
Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026: Regulations issued by the Reserve Bank of India rationalizing the ECB framework.
Reserve Bank of India: The issuing authority of the Foreign Exchange Management Regulations.
draft regulations: Regulations published on the RBI's website for stakeholder feedback prior to finalization.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
February 16, 2026
Foreign Exchange Management (Borrowing and Lending) (First Amendment)
Regulations, 2026
The Reserve Bank of India has issued the Foreign Exchange Management (Borrowing and
Lending) (First Amendment) Regulations, 2026. The amended regulations have rationalised
the ECB framework by expansion of eligible borrower and recognised lender base,
rationalisation of borrowing limits and restrictions on average maturity period, removal of
restrictions on the cost of borrowing for ECBs, review of end-use restrictions and simplification
of reporting requirements.
2. The regulations have been issued after examining and suitably including feedback received
from the stakeholders on the draft regulations published on the Bank’s website vide Press
Release dated October 03, 2025. Bank’s response to the major comments received are in the
Annex.
(Brij Raj)
Press Release: 2025-2026/2127 Chief General Manager