• Rajasthan

    Cong 99
    BJP 73
    RLM 3
    OTH 24
  • Madhya Pradesh

    Cong 115
    BJP 108
    BSP 2
    OTH 5
  • Chhattisgarh

    Cong 68
    BJP 15
    JCC 7
    OTH 0
  • Telangana

    TRS-AIMIM 95
    TDP-Cong 21
    BJP 1
    OTH 2
  • Mizoram

    MNF 26
    Cong 5
    BJP 1
    OTH 8

* Total Tally Reflects Leads + Wins

Banks can refinance ECBs of AAA-rated corporates overseas

By: | Published: December 7, 2017 4:58 AM

The Reserve Bank of India on Wednesday stated in its monetary policy that overseas branches or subsidiaries of Indian banks will be allowed to refinance external commercial borrowings (ECBs) of high rated PSUs and corporates by raising fresh ECBs.

Reserve Bank of India, rbi, ECB, external commercial borrowings, PSUThe Reserve Bank of India on Wednesday stated in its monetary policy that overseas branches or subsidiaries of Indian banks will be allowed to refinance external commercial borrowings (ECBs) of high rated PSUs and corporates by raising fresh ECBs.

The Reserve Bank of India on Wednesday stated in its monetary policy that overseas branches or subsidiaries of Indian banks will be allowed to refinance external commercial borrowings (ECBs) of high rated PSUs and corporates by raising fresh ECBs. The regulator pointed out that currently Indian corporates are permitted to refinance their existing ECBs at a lower all-in-cost. The overseas branches/subsidiaries of Indian banks are, however, not permitted to extend such refinance. “In order to provide a level playing field, it has been decided, in consultation with the government, to permit the overseas branches/subsidiaries of Indian banks to refinance ECBs of AAA-rated corporates as well as Navratna and Maharatna PSUs, by raising fresh ECBs,” the RBI indicated in its policy statement. Revised guidelines are expected to be issued within a week.

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