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.


Disclaimer

The information in this private circulation is not legal advice and should not be treated as such. The information is taken from public domain and is purely for private and non- commercial purposes. We do not represent that the information is correct, accurate, complete or non- misleading.

This disclaimer will be governed by and construed in accordance with laws of India, and any disputes relating to this disclaimer will be subject to the exclusive jurisdiction of the courts of the Republic of India.

Leave your comment

*

code