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The RBI has extended the scheme of raising external commercial borrowings (ECBs) as working capital for the civil aviation sector till March 31, 2015. Under this scheme, the overall limit for borrowings for the sector is set at $1 billion and for individual airlines $300 million. The funds raised can be used as working capital as well as for refinancing outstanding working capital loans taken from domestic banks. This is the second time the scheme has been extended following its introduction in April 2012.
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