RBI relaxes overseas borrowing guidelines

The Reserve Bank of India has relaxed overseas borrowing norms by revising the average maturity to avoid asset liability mismatch in banks. "External commercial borrowings of up to $20 million in a financial year should have a minimum average maturity of three years," the RBI said in a statement. "ECBs above $20 million and up to $750 million or equivalent should have a minimum average maturity of five years," the statement said.

Source : Economic Times