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competition wizard Published this articles Page No 297

 The Reserve Bank of India (RBI) on 30 Jul further liberalised the norms related to external commercial borrowing (ECB) by relaxing the end-use restrictions with regard to working capital general corporate purpose and repayment of rupee loans The changes have been made after receiving feedback from stakeholders Accordingly eligible borrowers will now be allowed to raise ECBs from recognised lenders except foreign branches and overseas subsidiaries of Indian banks with a minimum average maturity period of 10 years for working capital purposes and general corporate purposes Borrowing for on-lending by NBFCs for the above-Mentioned maturity and end-uses is also permitted Borrowers will also be allowed to raise ECBs with a minimum average maturity period of 7 years for repayment of rupee loans availed domestically for capital expenditure competition wizard