fbpx

Back to News

Overseas Bank Branches Can Refinance ECBs, Says RBI

December 07, 2017

The Reserve Bank of India (RBI) said that Indian banks’ subsidiaries, as well as branches that are located offshore, have been granted the permission to refinance external commercial borrowings (ECBs) of the AAA-rated private and public sector firms.

The decision is expected to not only expand the overseas credit market for the Indian banks but also bring down the corporate borrowing costs as well.

Previously, Indian lenders were allowed to finance dollar loans but barred from refinancing the same in the foreign countries as a preventive measure against the foreign currency risks.

Tags:
Finance

Recommended for you ...

DoT Seeks to Finalize Ombudsman System Under TRAI
DoT Seeks to Finalize Ombudsman System Under TRAI

October 22, 2018

India Looks to Generate 40% of Power from Renewable Resources by 2030
India Looks to Generate 40% of Power from Renewable Resources by 2030

October 22, 2018

NAREDCO Partners with Ministry of Housing and Urban Affairs to Train 2.5 Lakh Urban Poor
NAREDCO Partners with Ministry of Housing and Urban Affairs to Train 2.5 Lakh Urban Poor

October 22, 2018

Get the latest update on programs, courses, news and events