Financial Daily from THE HINDU group of publications
Tuesday, Feb 24, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 24, 2004 |
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RBI & Other Central Banks Corporate - Overseas Borrowings Companies allowed to raise ECBs for overseas investment Our Bureau
Mumbai , Feb. 23 IN an effort to facilitate Indian corporates in becoming global players, the Reserve Bank of India (RBI) today permitted eligible resident corporates to raise external commercial borrowings (ECBs) for overseas direct investment in joint ventures or wholly owned subsidiaries. This would include mergers and acquisitions, the RBI said in a communiqué issued late on Monday. The decision would help Indian corporates by facilitating their overseas direct investment.
More Stories on : RBI & Other Central Banks | Overseas Borrowings | Mergers & Acquisitions
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