Government writes to RBI, seeks higher borrowing limit for Exim Bank

The government has sought a relaxation in the Reserve Bank of India’s borrowing limit for Exim Bank to allow the export finance institution to play a bigger role in lending to bigticket, export-oriented projects. Exim Bank has asked for a 50% increase in the borrowing limit to 15% of its net owned funds, or NOF. Besides this, it has asked for a $10-billion line of credit from forex reserves to support high value project exports from India.


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