Recognizing the needs of the infrastructure sector, long term borrowing in foreign currency denominated ECB with a minimum average maturity of ten years has been permitted (subsequently reduced to five years in alignment with OECD requirements). Access to alternative sources of credit to eligible borrowers without its concomitant forex risks was made feasible with the introduction of masala bonds.
This is the rationale for extending the loan-to-value ratio for first-time buyers from 80% to 90%, which the 2014 budget has improved to 95% for eligible borrowers, subject to a partial state guarantee.