MANU/APDR/0023/2016

Ministry : Reserve Bank of India

Department/Board : RBI A.P. DIR (Series)

Circular No. : A. P. (DIR Series) Circular No. 60
                   RBI/2015-2016/372

Date : 13.04.2016

Notification/ Circulars Referred : A.P. (DIR Series) circular No. 17 dated September 29, 2015 MANU/APDR/0076/2015;A.P. (DIR Series) circular No. 94 dated April 01, 2013 MANU/APDR/0050/2013

Citing Reference:
A.P. (DIR Series) circular No. 17 dated September 29, 2015 MANU/APDR/0076/2015  Referred

A.P. (DIR Series) circular No. 94 dated April 01, 2013 MANU/APDR/0050/2013  Referred

To

All Category-I Authorised Dealer Banks

Madam / Sir,

Issuance of Rupee denominated bonds overseas

Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to the provisions contained in A.P. (DIR Series) circular No. 17 dated September 29, 2015 on issuance of Rupee denominated bonds overseas and paragraph no. 3.2, 3.3.1, 3.3.3 and 3.3.9 of Master Direction No.5 dated January 1, 2016 on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers. Attention of Authorized Dealer Category - I (AD Category - I) banks is also invited to paragraph no. 30 and 31 of the Fourth Bi-Monthly Monetary Policy Statement, 2015-16 issued on September 29, 2015, in terms of which:

i. The limits for Foreign Portfolio Investment (FPI) in debt securities is to be announced / fixed in Rupee terms and;

ii. The issuance of Rupee denominated bonds overseas will be within the aggregate limit of ........