[Source: www.thehindubusinessline.com]
Overseas loans at lower rates may help start-ups stay afloat
In a bid to give a further impetus to the growing start-up ecosystem in the country, the RBI has allowed them to raise up to $3 million a year through external commercial borrowings (ECBs).
In his first Monetary Policy speech, RBI Governor Urjit Patel said: “Start-ups have the potential to play a significant role in the economic development of the country and creation of jobs by spurring innovation and injecting competition.