Borrowing money from international financial institution will allow banks to access foreign funds
RBI allowed banks to borrow from international financial institutions for general banking business without seeking its permission
Mumbai: Easing norms for accessing foreign funds, RBI on Thursday allowed banks to borrow from international financial institutions for general banking business without seeking its permission.
“With a view to providing greater flexibility in seeking access to overseas funds, it has now been decided to permit... banks to borrow from international/multilateral financial institutions without approaching Reserve Bank for a case by case approval,” the RBI said.
( Source : PTI )
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