The Reserve Bank today relaxed norms to help Indian corporates to raise funds in rupees from overseas lenders. The apex bank today said that to facilitate External Commercial Borrowing (ECB) in rupees, off-shore lenders may enter into swap transactions with their overseas bank which in turn will enter into a back-to-back swap transaction with a bank in India.The RBI said for the purpose of executing swaps for ECBs denominated in rupees, the ECB lender if it desires, may set up a representative office in India. The RBI further said a KYC certification on the end client should also be taken by the bank in India as a one-time document from the overseas bank. Earlier, a non-resident ECB lender was allowed to extend loans in rupees provided the lender mobilizes rupees through a swap undertaken with a bank in India.