RBI Eases Rules For External Commercial Borrowings

Mumbai: Indian companies will need to submit for approval plans to issue external commercial borrowings only when they are above a certain threshold limit to be fixed from time to time, the Reserve Bank of India said on Thursday. The decision was taken "with a view to rationalizing and expediting the process of giving approval," the RBI said in a statement. Previously, all ECBs under the approval route needed prior RBI approval.