India : RBI eases rules for external commercial borrowings
Thu Jun 30 2016
Rajesh Sharma (2002 articles)

India : RBI eases rules for external commercial borrowings

MUMBAI Indian companies will need to submit for approval plans to issue external commercial borrowings only when they are above a certain threshold limit to be fixed from time to time, the Reserve Bank of India said on Thursday.

The decision was taken “with a view to rationalizing and expediting the process of giving approval,” the RBI said in a statement.

Previously, all ECBs under the approval route needed prior RBI approval.

(Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam and Subhranshu Sahu)

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.

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