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On Thursday, the reserve bank of India has extended the deadline for aviation sector to raise funds through external commercial borrowings (ECBs) route by a year till March.
The central bank through a notification said that, “In a review, it has been decided that…scheme of raising ECB for working capital for Civil Aviation Sector will continue till March 31, 2016.”
The scheme was valid till March 2015 as per the earlier guidelines.
It also added that the overall ECB ceiling for the entire civil aviation sector would be $1 billion and the maximum permissible ECB that can be availed by an individual airline company will be $300 million.
