Amid concerns that draft guidelines on project financing could lead to additional provisioning requirements and escalation of costs if implemented, economic affairs secretary Ajay Seth said the RBI will take the right decision by taking into account the feedback from the stakeholders. The Budget proposal to allow the use of Indian rupee for investments abroad is mainly aimed at neighbouring and strategic countries, he told Prasanta Sahu. Excerpts. What is your view on the RBI’s draft project financing guideline of 5% provisioning at the construction stage? Project developers are talking about a likely increase in the cost of capital for them.. Market participants including banks and infrastructure companies are saying that not all infrastructure sectors are the same. Some may have a higher risk, some may have a lower risk. So, they are saying don’t have a one-size-fits-all all approach, but have a more nuanced approach where the revenue stream is more certain. Also, based on the lessons from lending from 2005 till about 2014, a large number of corrective measures have been brought in by banks. So, they are saying five rupees (out of `100) becoming a bad debt is based on the historical data. They are asking for a revisit of the proposal and whether it should be lower than five rupees. RBI is now at the stage of assimilating that feedback. We trust the regulator to take the right decision.