Tag: External Commercial Borrowings (ECBs)

Start-ups can raise $3 mn via ECBs annually: RBI

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…

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…