THE RBI ISSUES A NEW EXTERNAL COMMERCIAL BORROWING POLICY

Published On: 21/01/2019

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On January 16, 2019, the RBI revised the external commercial borrowing policy, essentially restructuring the regime into foreign currency and Indian Rupee debt. In particular, the new regime significantly broadens the definition of eligible borrowers, but narrows the options to refinance domestic Rupee debt. INDUSLAW's Ran Chakrabarti and Kriti Gangwar discuss