The committee headed by MS Sahoo, the former member of the Securities and Exchange of India recommends that the country should remove the limits on corporates’ external commercial borrowings.  It has submitted its report to the government on Friday.

The committee was given the task to review the rules on external commercial borrowings (ECBs).

The Sahoo panel also favoured for removing end use restrictions and recommended that every borrower should hedge a part of their borrowings.

Currently the limit for each domestic company to raise funds through ECBs route stands at US $ 750 million in a financial year excluding the segment like hotel hospital and software sectors.