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Government to let Indian Realty Developers take ECB Route

Saturday, November 11, 2006

Faced with cash crunch, Indian realty developers are lobbying hard with the Government to make External Commercial Borrowing easier for them.

Current ECB and FCCB norms make it tough to borrow without diluting equity said a Bangalore based developer currently financed by wealthy Doctors from the US and the UK. With ECB borrowing he will have access to cheaper loans but however he was quick to point out that this is likely to benefit only the large developers.

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