MANU/APDR/0008/2017
Ministry : Reserve Bank of India
Department/Board : RBI A.P. DIR (Series)
Circular No. : A. P. (DIR Series) Circular No. 31
RBI/2016-2017/233
Date : 16.02.2017
Notification/ Circulars Referred : A. P. (DIR Series) Circular No. 60 dated April 13, 2016 MANU/APDR/0023/2016;A. P. (DIR Series) Circular No. 29 MANU/APDR/0089/2015
Citing Reference:
A. P. (DIR Series) Circular No. 60 dated April 13, 2016 MANU/APDR/0023/2016 Referred
A. P. (DIR Series) Circular No. 29 MANU/APDR/0089/2015 Referred
To
All Authorised Dealer Category - I Banks
Madam/Sir
Issuance of Rupee denominated bonds overseas - Multilateral and Regional Financial Institutions as Investors
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to paragraph No. 4 of A. P. (DIR Series) Circular No. 60 dated April 13, 2016 and paragraph No. 3.3.3 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' as amended from time to time about the criteria of recognized investors in the Rupee denominated bonds issued overseas.
2. In order to provide more choices of investors to Indian entities issuing Rupee denominated bonds abroad, it has been decided to also permit Multilateral and Regional Financial Institutions where India is a member country, to invest in these Rupee denominated bonds.
3. All other provisions of the aforesaid circular dated April 13, 2016 and applicable provisions of A. P. (DIR Series) Circular No. 29 dated September 29, 2015 remain unchanged. AD Category - I banks may bring the contents of this circ........