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ECB for startups to be allowed

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[Source: www.thehindubusinessline.com]

Overseas loans at lower rates may help start-ups stay afloat

In a bid to give a further impetus to the growing start-up ecosystem in the country, the RBI has allowed them to raise up to $3 million a year through external commercial borrowings (ECBs).

In his first Monetary Policy speech, RBI Governor Urjit Patel said: “Start-ups have the potential to play a significant role in the economic development of the country and creation of jobs by spurring innovation and injecting competition.

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