The RBI has amended the External Commercial Borrowing (ECB) Regulations, 2018 through the 2026 amendment, marking a shift toward tighter monitoring and compliance. The revised framework enhances borrowing limits to the higher of USD 1 billion or 300% of net worth, while expressly restricting end-use for activities such as real estate, NPAs refinancing, chit funds, and certain investments in securities. It formalises treatment of restructuring transactions, strengthens security and conversion norms, and mandates strict reporting compliance, including LRN registration and periodic filings. The amendment aligns ECB norms with prudential and restructuring standards under FEMA, signalling a more disciplined overseas borrowing regime.