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    HomeNewsBusinessCompaniesIndia allows $1 bn overseas borrowing for airline industry

    India allows $1 bn overseas borrowing for airline industry

    India has allowed aviation companies to borrow up to USD 1 billion from overseas to meet their working capital requirement for one year, the finance ministry said in a statement on Thursday.

    April 19, 2012 / 19:31 IST

    India has allowed aviation companies to borrow up to USD 1 billion from overseas to meet their working capital requirement for one year, the finance ministry said in a statement on Thursday.


    Finance Minister Pranab Mukherjee had proposed the move in his federal budget for 2012-13 that was announced in March.


    The statement also said the Reserve Bank of India would consider relaxation in average maturity of overseas borrowing above USD 20 million from 5 to 3 years for the aviation sector.

    first published: Apr 19, 2012 04:42 pm

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