The Reserve Bank of India, with a view to further liberalize the External Commercial Borrowings (ECB) framework has decided to relax the end-use restrictions. This enables the companies and non-banking lenders greater freedom to borrow overseas fund, subject to the following conditions.
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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
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