RBI relaxes ECB rules in housing, aviation sector

RBI relaxes ECB rules in housing, aviation sector
Allowing companies the easy access to cheaper funds for key infrastructure sectors, the Reserve Bank of India (RBI) yesterday eased overseas borrowing norms.

Speaking to the reporters, RBI's deputy governor H R Khan said, "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."

However, Khan said that there has been no overall change in ECB limit which is USD 40 billion, adding the central bank will soon come out with a uniform definition for infrastructure companies.

The apex bank had also allowed civil aviation sector to raise working capital resources through ECB route.

Read more about: rbi
Story first published: Thursday, May 16, 2013, 9:30 [IST]
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