Govt wants RBI to ease ECB, priority sector lending norms

The Government of India has asked the Reserve Bank of India (RBI) to consider easing External Commercial Borrowing (ECBs) and priority sector lending norms for smooth, cost-effective financing of the $90-billion Delhi-Mumbai Industrial Corridor (DMIC) project.

ECB is a short-term (minimum average maturity of three years), cheap commercial loan obtained from overseas lenders.

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