External commercial borrowing norms to be relaxed soon
External commercial borrowing (ECB) norms may be relaxed soon to ease liquidity availability said, a senior finance ministry official today.
"Yes we are loking at that (ECB relaxation). We will be able to take a position on that in the near future" said Ashok Chawla, Secretary, Department of Economic Affairs.
Government and the Reserve Bank of India are watching the liquidity situation closely, added Chawla.