Financing standing working capital of Oil Marketing Companies (OMCs) by long term external borrowings

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..... Financing standing working capital of Oil Marketing Companies (OMCs) by long term external borrowings
News and Press Release
Dated:- 4-10-2018

It has been decided to put in place an arra .....

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..... ngement for financing the standing working capital requirements of Oil Marketing Companies (OMCs) by long-term foreign currency loans. The arrangement will be as follows: (i) OMCs will borrow USD 10 .....

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..... billion with a maturity of 5 years in a phased manner, with an initial tranche of USD 4 billion followed by two tranches of USD 3 billion each, all borrowing completed in a period of one year from now .....

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..... . (ii) OMCs will not be required to hedge their exposure.
News - Press release - PIB .....

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