New Delhi: The Reserve Bank today eased overseas borrowing norms to allow companies access to cheaper funds for key infrastructure sectors.
"The RBI has extended the external commercial borrowing (ECB) relaxation for affordable housing which was there for one year to two more years (now) and aviation for a few more months," RBI's deputy governor H R Khan told reporters.
He was speaking after a meeting of the high-level committee on external commercial borrowings (ECB), which was chaired by Department of Economic Affairs (DEA) Secretary Arvind Mayaram.
Khan, however said that there has been no overall change in ECB limit which is $40 billion, adding the central bank will soon come out with a uniform definition for infrastructure companies.
14/05/13 PTI/Business Standard
