Overseas foreign currency borrowing limits increased for authorised banks, enabling swaps into rupees at concessional rate. AD Category I banks may borrow overseas foreign currency up to 100 per cent of unimpaired Tier I capital or USD 10 million equivalent, replacing the earlier 50 per cent limit, with exemptions for certain export credit and capital instruments. A time limited concessional swap facility into rupees is available for fresh borrowings of one to three years at one hundred basis points below market rate with annual resets. Excess borrowings beyond the prior ceiling require a board approved borrowing policy, a 12.0 per cent CRAR, minimum three year maturity, and continued compliance with existing regulatory norms.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Overseas foreign currency borrowing limits increased for authorised banks, enabling swaps into rupees at concessional rate.
AD Category I banks may borrow overseas foreign currency up to 100 per cent of unimpaired Tier I capital or USD 10 million equivalent, replacing the earlier 50 per cent limit, with exemptions for certain export credit and capital instruments. A time limited concessional swap facility into rupees is available for fresh borrowings of one to three years at one hundred basis points below market rate with annual resets. Excess borrowings beyond the prior ceiling require a board approved borrowing policy, a 12.0 per cent CRAR, minimum three year maturity, and continued compliance with existing regulatory norms.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
