01.12.2015 - SWFs can lend to Indian cos; small ECBs’ limit hiked to $50 mn
The Reserve Bank of India on Monday revamped the external commercial borrowing (ECB) regime and long-term foreign currency borrowing with “a more liberal approach, fewer restrictions on end uses and higher all-in-cost ceiling.” The RBI will allow offshore insurance companies, pension funds and sovereign wealth funds (SWFs) to lend to Indian companies for the long term in a bid to attract more inflows. The central bank raised the limit for small value ECBs with minimum average maturity (MAM) of three years to $50 million from the existing $20 million and alignment of the list of infrastructure entities eligible for ECB with the harmonised list of the government...............................................Full Article: Source
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