Mumbai (Maharashtra) [India], April 30 (ANI): Market indices continued to trade positive on Monday afternoon, owing to favourable global cues, particularly from the Asian market.
HDFC Bank, TCS and Infosys were early gainers, while shares of Reliance Industries were down by one percent.
Meanwhile, the Indian rupee traded at Rs.66.78 against one US dollar.
The central bank made all-in-cost ceiling for ECBs uniform at 450 basis points over the benchmark London Interbank Offer Rate (LIBOR), thus eliminating different slabs for different maturities.
The RBI also facilitated an increase in the liability-to-equity ratio for ECB raised from direct foreign equity holder under the automatic route to 7:1, implying that for every rupee of equity, companies can now borrow seven rupees through ECBs. (ANI)