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India central bank eases refinancing rules for infrastructure loans
[MUMBAI] India's central bank eased rules for long-term loans by banks to the infrastructure sector and heavy industry, allowing for easier refinancing and more flexible restructuring as part of widely expected measures.
The Reserve Bank of India said only loans where the combined exposure by lenders in a single project is more than 5 billion rupees (US$79.40 million) would be eligible under the eased regulations.
The rules are intended to help the government's push to revive stalled infrastructure projects as a means to help the economy.