RBI eases ECB norms for infrastructure creation

Reserve Bank has liberalised norms governing foreign borrowings for infrastructure creation “in consultation with the government”. The minimum average maturity requirement for external commercial borrowings (ECBs) in the infrastructure space raised by eligible borrowers has been reduced to three years from five years earlier, a notification said. Additionally, the average maturity requirement for mandatory hedging has been reduced to five years from ten previously, the central bank announced.