ECB window to widen

ECB: External Commercial Borrowing

• The government is all set to widen the scope of ECB.
• This will be done via including sectors incorporated in the new definition of infrastructure, approved by the Cabinet committee on infrastructure.
• Objective: This will permit companies involved in various sectors, including education and health, gain an access ECB in order to raise debt.
• A high-level committee on ECB, chaired by Economic Affairs Secretary Arvind Mayaram will meet on November 30, 2012 in order to clear the proposal, after which the RBI would issue the opt notice.

Month: Current Affairs - November, 2012