SME Times is powered by   
Search News
Just in:   • Healthy Monsoon forecast, global cues pushes equities higher  • ECLGS 2.0 now covers SMA-1 borrowers  • Forex reserves up by over $4 bn  • Honda Cars India to recall 77,954 units  • Industrial activity to continue despite surge: Haryana CM 
Last updated: 27 Sep, 2014  

RBI.Thmb.jpg India to invest in bonds, raise borrowing limit

   Top Stories
» ECLGS 2.0 now covers SMA-1 borrowers
» Forex reserves up by over $4 bn
» Industry seeks reimposition of bankruptcy moratorium
» 'Govt should regulate cryptocurrencies, not ban them'
» Startups new champions of Aatmanirbhar Bharat: Goyal
SME Times News Bureau | 13 Sep, 2013
Government Thursday said that it will enter into a arrangement with International Bank for Reconstruction and Development (IBRD) for investing in special bonds that will, in turn, raise the country's borrowing limit by $4.3 billion.

The decision which was approved by the Cabinet Committee on Economic Affairs (CCEA) for entering into the special private placement bonds (SPPBs) arrangement with IBRD will enable India to have additional borrowing of $4.3 billion.

Currently, India through single borrower limit (SBL) can borrow $17.5 billion. This amount will now increase to $21.8 billion

According to the CCEA, a framework agreement between government and IBRD would be signed.

The decision envisages Reserve Bank of India (RBI) to invest in the SPPBs of the IBRD.

"Additional borrowing space will enable government to commit new projects with IBRD assistance," the CCEA said in a statement.

"Government of India gives preference to projects in low income and special category States, as well as to projects aimed at fostering inclusive growth." 
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 17 Apr, 2021
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Covid second wave: Lockdown or no lockdown(2)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter