The existing External Commercial Borrowings (ECB) framework restricted the utilisation of proceeds denominated in either foreign currency or Indian Rupee (INR) for repayment or for on-lending for repayment of domestic rupee loans. However, on Thursday, The Reserve Bank of India(RBI) has issued a statement proposing to relax the end-use restrictions under the approval route of the ECB framework which will enable the bidders of insolvent companies to borrow from abroad to repay to existing lenders.