FinMin working with RBI, Sebi to ensure reforms, stability

NEW DELHI: The Finance Ministry today said it's working with RBI and Sebi to ensure reforms in the financial sector while ensuring stability.

Economic Affairs Secretary Shaktikanta Das today said in a tweet that RBI's move to liberalise external commercial borrowing (ECB) norms and Sebi's approval to a new set of revised norms for IPOs and listing of the bourses are "reform" measures.

"The Finance Ministry, RBI, Sebi working together with positive interaction and understanding. Will continue to work for reforms and stability," Das tweeted.

He also said Sebi decision to release discussion paper on guidelines for green bonds is "timely" and coincides with the ongoing climate change talks internationally. This, he said, "demonstrates India's commitment".

"A very satisfying day for reforms and our economy. Will continue to work harder with focus," he said.

To attract more overseas funds, RBI today liberalised the ECB norms, allowing companies to raise small value loans with average maturity of three years up to USD 50 million and expanded the list of overseas lenders to include sovereign wealth and pension fund.

Paving the way for stock exchanges, including BSE and NSE, to get listed, markets regulator Sebi today approved a new set of revised norms for IPOs.