Source: Times Of India, 22nd September 2008

NEW DELHI: Government will soon relax the external commercial borrowings (ECB) norms in view of the unfolding global scenario, Department of Economic Affairs (DEA) Secretary Ashok Chawla said on Monday.

"You cannot rule that out. The government and the regulator is watching the situation carefully and will take a position soon", he said while addressing a press conference.

The easing of norms, he added, will help industry especially the infrastructure sector to access cheap funds overseas in view of the hardened interest rate situation in the domestic market.