In order to automate the complete lifecycle of external commercial borrowings (ECBs) and trade credits, RBI is in the process of implementing which project.

In its endeavour to automate the complete lifecycle of external commercial borrowings (ECBs) and trade credits, the Department OF Financial Markets and Foreign Exchange is in the process of implementing the SPECTRA project. SPECTRA would encompass the lifecycle of ECB/trade credits, from receipt of application to approval stage either at the level of Authorised Dealer (AD) Bank or the Reserve Bank, as well as reporting of transactions. It will incorporate all policy provisions related to ECBs and trade credits. The development of the software has since been completed and the user acceptance testing (UAT) is near completion. SPECTRA -Software Platform for External Commercial Borrowings and Trade Credits Reporting and Approval.