The Reserve Bank permitted startups to raise External Commercial Borrowings (ECBs) of up to USD 3 million in a financial year, a move aimed at boosting innovation and promoting job creation. The borrowing should be denominated in any freely convertible currency or in Indian Rupees (INR) or a comb…
Tag: External Commercial Borrowings (ECBs)
Start-up procurement norms not relaxed completely
Start-ups are unlikely to get the benefit of the relaxation clause for the prior experience and turnover criteria with respect to procurement of goods that have implications on public safety and health. “For such procurements, wherever adequate justification exists, the procuring entities may not…
SMEs’ ability to pay back goes up
In a big boost to emerging entrepreneurs and start-ups, the RBI on October 4, announced its decision allowing start-ups to raise External Commercial Borrowings (ECBs) up to $3 million or equivalent per annum. Entrepreneurs look at ECBs as a competitive source of finance as compared to domestic fu…
Monetary Policy: Start-ups can raise $3 mn via ECBs annually, says RBI
With a view to boosting innovation and promoting job creation, the Reserve Bank today said start-ups can raise External Commercial Borrowings (ECBs) of up to 3 million in a financial year. They will be permitted raise the overseas funds in rupees as well as in foreign currency. India has the thir…