Bajaj Finance to seek RBI's nod to raise ECB limit to $1.4 billion

Bajaj Finance is set to approach the Reserve Bank of India (RBI) to increase its limit of borrowing through external commercial borrowing (ECB). It has already got the board's approval to increase the limit for borrowing through ECB to $1.4 billion.  Now, the company has sought shareholders' approval for raising the limit which they expect to get in five-seven days.  "The board of directors in its meeting held today increased the limit for borrowing funds through ECBs, by way of loans or issuance of secured/unsecured bonds, notes, debentures, etc. up to an aggregate amount of $1.4 billion, in one or more tranches, in accordance with the rules and regulation framed by the RBI," the company said in an exchange filing.