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The external commercial borrowing (ECB) limit for non-banking finance companies(NBFCs) has been been raised by the the Reserve Bank of India and classified as infrastructure finance companies (IFCs).
Media reports say such companies desirous of availing ECBs beyond 75 per cent of their owned funds would require the RBI’s approval and will, therefore, be considered under the approval route. According to the RBI, the permitted end use of ECBs raised by such companies should be for lending to the infrastructure sector, as defined under the ECB policy.
These companies should also fully hedge their currency risk.