TMI BlogIssuance of Rupee denominated bonds overseasX X X X Extracts X X X X X X X X Extracts X X X X ..... sed 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 foreign investment permitted in corporate debt as notified from time to time. 2. According to the Monetary Policy Statement, the current limit of USD 51 billion for foreign investment in corporate debt, as was given in A.P. (DIR Series) circular No. 94 dated April 01, 2013 , has been fixe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Understanding with the Securities and Exchange Board of India (SEBI) for information sharing arrangements; and should not be a country identified in the public statement of the FATF as: (i) A jurisdiction having a strategic Anti-Money Laundering or Combating the Financing of Terrorism deficiencies to which counter measures apply; or (ii) A jurisdiction that has not made sufficient progress in addressing the deficiencies or has not committed to an action plan developed with the Financial Action Task Force to address the deficiencies. 5. It has been decided to reduce the minimum maturity period for Rupee denominated bonds issued overseas to three years in order to align with the maturity prescription regarding foreign inve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er provisions of Circular dated September 29, 2015 remain unchanged. AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers. 10. The changes / revised instructions in respect of issuance of Rupee denominated bonds as mentioned at paragraph no. 3 to 7 above, will be applicable from the date of issuance of this Circular. Transactions already carried out as per earlier instructions / pipe line transactions where LRN has already been obtained / proposals where agreement have already been signed and / or offer document already issued may be concluded as per provisions contained in Circular dated September 29, 2015. Post-facto reporting of actual transactions, already undertaken shall, how ..... X X X X Extracts X X X X X X X X Extracts X X X X
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