NEW DELHI: In a move aimed at enabling infrastructure companies to meet their increased funding requirements, the Government on Monday eased the external commercial borrowing (ECB) norms to permit bringing in up to $500 million for rupee expenditure each year. The new norms will come into effect from the date of notification by the Reserve Bank of India.

Announcing the relaxation, an official statement here said: "Considering the huge funding requirements, particularly for meeting rupee expenditure, it has been decided to enhance the existing limit of $100 million to $500 million for borrowers in the infrastructure sector under the approval route."

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Posted by boyang at September 23, 2008 3:38 PM