The Reserve Bank of India (RBI) on Monday relaxed rules to make it simpler for local organizations to borrow money and invest it abroad.
Under the new rules, organizations can utilize a charge on their assets as security for the credits, the RBI said in an announcement on Monday, which previously needed prior approval from the Central Bank. Organizations can likewise utilize Shares as a part of abroad joint ventures as security.
The funds raised through either system will must be utilized for the organization’s center business exercises abroad and not for putting back in India, the RBI articulation said.
