Friday, April 15, 2016

RBI eases ECB norms for infra space

The Reserve Bank of India (RBI) has allowed all companies engaged in the infrastructure sector to raise External Commercial Borrowings with a minimum maturity of five years, including those Non-Banking Finance Companies (NBFC) regulated by the central bank. By putting the NBFCs directly in the category of infrastructure, RBI has made it easier for these firms to raise additional resources of up to $750 million, provided they use the proceeds only for financing infrastructure, and not for their own use.

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