#ECB #Low-Cost Housing #NewsTracker #RBI
AFP
The Reserve Bank of India (RBI) on Monday allowed property developers to borrow money overseas through external commercial borrowing (ECB) for funding low-cost housing projects.
Housing finance companies can also avail of ECB for financing prospective owners of low-cost housing units, the RBI said in a statement.
The application for ECB would have to be sent to the central bank for approval, it said.
Reuters
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India’s discourse with China has traditionally been trapped in the Mao-ist maze that defines how “friends” ought to conduct themselves. But Chinese statecraft has evolved, and India too must up its diplomatic game.
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After monitoring a phone call, the investigation had virtually turned pan-India with some of the bookies based in Gujarat and Mumbai.
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