Last Updated : Jan 28 2013 | 2:33 AM IST
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| Last week, the Ministry of Finance (MoF) issued new guidelines for External Commercial Borrowings (ECBs). Even though the impact of the guidelines is expected to be small, this decision is important in that it constitutes an important reversal of the market-oriented reforms of the 1990s.
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The guidelines have imposed a number of restrictions on external commercial borrowings by firms. ECBs above $ 50 million will be permitted only for
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First Published: Nov 19 2003 | 12:00 AM IST
