RBI relaxes ECB norms
04/09/2014 11:11
In a move to provide greater flexibility for structuring of External Commercial Borrowings (ECB) arrangements, the Reserve Bank of India on Wednesday eased ECB norms. “The central bank has decided that all recognised non-resident ECB lenders may extend loans in Indian Rupees by mobilising Indian rupees through swaps undertaken with an Authorised Dealer Category I bank in India,” RBI said in a press release. Currently, all eligible borrowers are eligible to raise ECB in Indian rupees only from their foreign equity holders.
04/09/2014 11:11
In a move to provide greater flexibility for structuring of External Commercial Borrowings (ECB) arrangements, the Reserve Bank of India on Wednesday eased ECB norms. “The central bank has decided that all recognised non-resident ECB lenders may extend loans in Indian Rupees by mobilising Indian rupees through swaps undertaken with an Authorised Dealer Category I bank in India,” RBI said in a press release. Currently, all eligible borrowers are eligible to raise ECB in Indian rupees only from their foreign equity holders.
