National Housing Bank appeal RBI a hike in ECB

The National Housing Bank (NHB) is planning to appeal the RBI seeking a hike in external commercial borrowings (ECB) limit for low-cost housing which is precariously reached the annual limit of US$1 billion set by the Reserve Bank of India for the current fiscal.

Until December 2012, the demand for ECBs from housing finance companies (HFCs) and builders is estimated at US$900 million.