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Nov 22, 2014
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ECB proceeds can be parked as fixed deposits for 6 months: RBI
Easing norms for parking external commercial borrowings (ECB), the Reserve Bank today said such loans can be kept as fixed deposits for a period of six months for use at a later stage.
As per the extant norms, the money raised from abroad meant for rupee expenditure in India had to be brought immediately for credit to the rupee accounts of such borrowers.
Source -
http://www.business-standard.com
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