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Issuance of Rupee denominated bonds overseas

FEMA - 47 - Dated:- 7-6-2017 - RBI/2016-17/316 A. P. (DIR Series) Circular No.47 June 7, 2017 To All Authorised Dealer Category - I Banks Madam/Sir Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to Sr. No. 3, 4 and 5 of Annex to A.P.(DIR Series) Circular No.17 dated September 29, 2015, paragraph No. 2, 3, 4 and 5 of A.P. (DIR Series) Circular No. 60 dated April 13, 2016, paragraph No. 2 of A.P. (DIR Series) Circular No. 31 dated February 16, 2017 and paragraph No. .....

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elements of the ECB framework, it has been decided that any proposal of borrowing by eligible Indian entities by issuance of these bonds will be examined at the Foreign Exchange Department, Central Office, Mumbai. Further, it has also been decided to revise the provisions in respect of maturity period, all-in-cost ceiling and recognized lenders (investors) of Masala Bonds as under: i. Maturity period: Minimum original maturity period for Masala Bonds raised upto USD 50 million equivalent in INR .....

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