The Reserve Bank of India has accommodated the Indian Merchants’ Chamber’s (IMC) plea for including telecom towers in infrastructure finance definition for Non-Banking Financial Companies (NBFCs). The Chamber had recently brought to the notice of Deputy Governor Ms Shyamala Gopinath during a seminar on NBFC held in IMC on anomaly that in the same definition for banks for infrastructure loans, telecom towers were included, but not for NBFCs, a release issued by IMC said here today. The Reserve Bank has now issued a notification amending the Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 to include 'Telecom Towers' also as an infrastructure facility for availing credit facility from NBFCs, the release added.
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