Easing norms for accessing foreign funds, RBI 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.
The flexibility has been provided for international/ multilateral financial institutions of which Indian can borrow.
