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New Delhi May 21 The Union Finance Minister, Mr P. Chidambaram, on Monday said that the recent move to block the use of external commercial borrowing (ECB) for the development of integrated townships was aimed at slowing the external debt flow in the real estate sector.

"The idea is to slow down the external debt flow in the real estate sector. Now, the window has been narrowed down. We hope that flow of external debt to real estate sector will slow down," Mr Chidambaram told reporters in the capital today.

More Stories on : Real Estate & Construction | Overseas Borrowings | Policy

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