The government ban on external commercial borrowing, or ECBs, for integrated townships has shut off a staggering $12 billion that was to be raised for integrated townships, reports CNBC-TV18.
As a fallout of the ECB ban, $12 billion flow into townships has been blocked and debt funding for real estate from overseas has also been banned.
The developers that have been affected are Emmar MGF, Prestige, Brigade Group, Embassy and Lodha.
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