RBI proposes to relax IBC framework for Resolution Applicants

RBI proposes to relax IBC framework for Resolution Applicants

Mumbai, A special provision has been made by the RBI for companies bidding for stressed firms under the insolvency and bankruptcy code (IBC), with a view to make funds cheaper for such companies. Bidding companies can now raise foreign currency funds through foreign banks abroad and use these proceeds to repay the bank debt for stressed companies, which they are looking to buy.

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