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RBI draft rules liberalise and modernise India’s ECB regime
The Reserve Bank of India (RBI) has released its draft Foreign Exchange Management (Borrowing and Lending) (Fourth Amendment) Regulations, 2025 (draft regulations) for public comment. They signal a significant shift from a rule-bound approach to a more risk-based and market-driven framework for external commercial borrowing (ECB). The key changes include the existing annual borrowing cap of…
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