---RBI eases offshore borrowing rules for non-bank asset finance - TopicsExpress



          

---RBI eases offshore borrowing rules for non-bank asset finance companies--- The Reserve Bank of India on Monday eased rules for non-bank asset finance companies to raise debt overseas by allowing the lenders to raise such funds through the automatic route as against the approval route earlier, in a step aimed at improving dollar supply amid a weakening rupee. Non-bank asset finance companies can raise offshore debt up to $200 million in a financial year to finance import of infrastructure equipment, the central bank said. The RBI also allowed them to raise such debt from all recognised lenders with a minimum average maturity of five years. The rupee ended at 60.61/62 to the dollar, after suspected dollar sales by the central bank through state- run banks pulled the unit off from its lifetime low of 61.21 on Monday. (Reuters)
Posted on: Tue, 09 Jul 2013 04:11:43 +0000

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