Mumbai: The Reserve Bank today extended the deadline for aviation sector to raise funds through external commercial borrowings (ECBs) route by a year till March, a move aimed at providing relief to the cash-crunched sector.
"In a review, it has been decided that...scheme of raising ECB for working capital for Civil Aviation Sector will continue till March 31, 2016," the central bank said through a notification.
As per the earlier guidelines, the scheme was valid till March 2015.
The overall ECB ceiling for the entire civil aviation sector would be USD 1 billion and the maximum permissible ECB that can be availed by an individual airline company will be USD 300 million, it said.
11/06/15 PTI/Economic Times
To Read the News in full at Source, Click the Headline
"In a review, it has been decided that...scheme of raising ECB for working capital for Civil Aviation Sector will continue till March 31, 2016," the central bank said through a notification.
As per the earlier guidelines, the scheme was valid till March 2015.
The overall ECB ceiling for the entire civil aviation sector would be USD 1 billion and the maximum permissible ECB that can be availed by an individual airline company will be USD 300 million, it said.
11/06/15 PTI/Economic Times
