SREI: To boost infra RBI relaxation of ECB norms

Yesterday,the Reserve Bank of India relaxed norms for companies and financial institutions to raise funds for infrastructure sector via the external commercial borrowing route. The world has opened up for raising funds for Indian infrastructure," The move would help increase availability of funding for infrastructure projects, said SREI Infra Vice Chairman and ASSOCHAM President Sunil Kanoria. "Demand for construction and mining equipment has been increasing, " Kanoria said, adding that such companies are poised to get benefited from the central bank guidelines. The Reserve Bank of India has allowed infrastructure and asset finance NBFCs,core investment companies and holding companies to raise funds via ECBs, it is subject to 100 percent hedging.

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