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RBI permits ECB facility for NBFC-AFCs
July 9, 2013July 9, 2013by In Infrastructure Finance

RBI permits ECB facility for NBFC-AFCs

Reserve Bank of India (RBI) allowed Non-banking finance companies (NBFCs) categorised as Asset Finance Companies (AFCs) to avail of external commercial borrowing (ECB). But the central bank imposed certain conditions for such NBFCs to access ECB window. One of the condition is that they would avail ECB under the automatic route with minimum average maturity of five years. Further, the funds raised through the ECB route must