RBI Simplifies Rules for Rescheduling External Commercial Borrowings

The Reserve Bank of India (RBI) said it will allow banks to reschedule loans raised by companies through external commercial borrowings (ECBs) effective immediately.

The RBI said it will allow banks to reschedule ECBs arising due to changes in draw-down schedule or repayment schedule.

The apex bank also said rescheduling would be allowed only once before the loan matures and will be available for loans raised under both automatic and approval routes.

Copyright @ Thomson Reuters 2014

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