The Reserve Bank of India, in consultation with the government, has decided to have a rule-based dynamic limit for outstanding stock of External Commercial Borrowings (ECB) at 6.5% of GDP at current market prices.
As per the statement based on the GDP figures, the soft limit works out to $160 billion for the current financial year. The outstanding stock of ECBs as on September 30, 2018, stands at $126.29 billion.
Source- The Hindu Business Line
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- RBI 25th Governor: Shaktikanta Das, Headquarters: Mumbai, Founded: 1 April 1935, Kolkata.