High level committee on ECBs to meet on November 30

A high level committee on External Commercial Borrowings (ECBs) will be meeting on November 30, reports CNBC-TV18's Aakanksha Sethi.

Essentially the finance ministry is looking at measures to strengthen the rupee. It is looking at a series of proposals, the first of course, is to include foreign banks in the definition of the FIIs to increase inflows. It is also looking at allowing ECBs for non infrastructure sectors. Also read: Govt considering raising FII limit in bonds
Currently only hospitals, software companies are the non-infrastructure sectors that are allowed to raise ECBs. So they are looking at extending these categories to other sectors as well. Also they are looking at raising FII caps in debt instruments which is government securities and corporate bonds. Sources tell us that these could be increased by USD 5 million each. However those limits are still being worked on by the government.