India may further ease overseas borrowing rules

India may further ease overseas borrowing rules

New Delhi: India is likely to further relax pricing rules for American and global depository receipts (ADR/GDR) to enable companies to raise funds easily from overseas markets, a government official said on Tuesday.

“We have got feedback from the industry. We are in touch with Reserve Bank of India and Securities and Exchange Board of India on this issue," the official said on condition of anonymity.

A decision could be announced by the end of this month, he added.

The government was also considering further relaxation in the overseas borrowing rules for companies, as part of efforts to improve the tight cash conditions in the domestic market, the official said.

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