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External Commercial Borrowings (ECB) Policy - Issuance of Rupee denominated bonds overseas

FEMA - 17 - Dated:- 29-9-2015 - RBI/2015-16/193 A.P. (DIR Series) Circular No.17 September 29, 2015 To, All Authorised Dealer Category - I Banks Madam/ Sir Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to the provisions contained in A.P. (DIR Series) Circular No. 5 dated August 01, 2005 as amended from time to time on External Commercial Borrowings (ECB). 2. In order to facilitate Rupee denominated borrowing from overseas, it has been decided to put in place a fr .....

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te with prevailing market conditions. v. Amount: As per extant ECB policy. vi. End-uses: No end-use restrictions except for a negative list. 3. The detailed guidelines for issuance of Rupee denominated bonds overseas are set out in the Annex. 4. All other provisions of extant ECB guidelines regarding reporting requirements (including obtaining Loan Registration Number (LRN) through submission of Form 83 where type of ECB is to be specifically mentioned as borrowing through issuance of Rupee deno .....

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ent Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully (B. P. Kanungo) Principal Chief General Manager Annex Issuance of Rupee denominated bonds overseas Sr. No. ECB parameter Framework 1. Eligibility of borrowers Any corporate or body corporate is eligible to issue Rupee denominated bonds overseas. Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) coming under the regulatory jurisd .....

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