India central bank eases overseas borrowing rules for local companies

November 30, 2015 3:01 PM

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MUMBAI Nov 30 India will allow offshore insurance companies, pension funds and sovereign wealth funds to lend to local companies for the long term, the central bank said on Monday, easing rules for offshore borrowing.

The Reserve Bank of India said it was taking a "more liberal approach" for long-term foreign currency borrowing as well as for external commercial borrowings denominated in Indian rupees. (bit.ly/1OzJ241)

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