 "Reserve Bank of India | File Photo")
The Reserve Bank of India (RBI) on Thursday announced various measures to strengthen the banking and non-banking financial systems, improve regulation of the payments space, encourage foreign borrowings and investment, and deepen financial inclusion in its Statement on Developmental and Regulatory Policies. The guidelines for these measures will be released by the RBI by the end of this month.
1) Allow IBC resolution applicants to borrow funds abroad
The RBI proposed to relax the External Commercial Borrowings (ECB) framework, allowing resolution applicants under the Insolvency and Bankruptcy Code (IBC) to borrow abroad for repayment of rupee term loans of the
