MUMBAI (Reuters) - The Reserve Bank of India said it will allow banks to reschedule loans raised by companies through External Commercial Borrowings (ECBs) effective immediately.
The RBI said it will allow banks to reschedule ECBs arising due to changes in draw-down schedule or repayment schedule.
The central bank said rescheduling would be allowed only once before the loan matures and will be available for loans raised under both automatic and approval routes.
(Reporting by Himank Sharma; Editing by Anupama Dwivedi)
