Allow us to raise ECBs, asset financing NBFCs tell RBI

Asset financing non-banking finance companies (AFCs) have urged the RBI to permit them to raise external commercial borrowings. Allowing these companies to raise ECBs would help them diversify their source of borrowings and raise funds at cheaper rates, they have submitted. Also, such long-term borrowings would lend stability to the asset-liability profile of the AFCs, the Finance Industry Development Council (FIDC) has said. This suggestion forms part of the representation made by the FIDC to the RBI on the draft guidelines of the Usha Thorat Committee report on issues and concerns of NBFC sector.......

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