Hopes of relaxations in ECB norms renewed with new RBI chief
PUBLISHED ON: September 9, 2008 | Duration: 1 min, 38 sec
D Subbarao's appointment as new RBI governor has reignited hopes for a further relaxation of external commercial borrowing (ECB) norms. ECBs were capped last year due to a spike in dollar flows. Corporates now argue that since dollar flows have moderated, the policy should be relaxed.