Mar 06, 2013, 11.38 AM | Source: CNBC-TV18
The RBI today allowed companies which are under investigation by agencies like the enforcement directorate to apply for foreign loans under the "automatic route".
Hitherto, such companies could apply for foreign loans only, under the approval route. However, this is a route which requires RBI approval.
The Central Bank said that commercial banks which arrange these loans will have to intimate the investigating agency about the new loan.
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