Zeebiz.com
Mumbai, Jun 25: The Reserve Bank of India (RBI) Monday announced a series of measures, including raising limits for external commercial borrowings and government securities, that would help revive the battered currency and the economy.
The Reserve Bank of India said in a statement that it has taken measures in consultation with the government to liberalise capital account transactions.
It has been decided to allow Indian companies in the manufacturing and infrastructure sector and earning foreign exchange to avail of external commercial borrowing (ECB) for repayment of outstanding rupee loans towards capital expenditure and/or fresh Rupee capital expenditure under the approval route, the RBI said.