Overseas borrowing flexibility for authorised banks expanded, with conditional access for general banking and swap eligibility. Authorised Dealer Category I banks may borrow overseas from head offices, overseas branches, correspondents or other entities permitted by the Reserve Bank up to one hundred per cent of unimpaired Tier I capital or the specified floor amount, subject to conditions directed by the Reserve Bank. Temporary permission is granted to borrow from international and multilateral financial institutions until November 30, 2013 for general banking business (not capital augmentation); such borrowings must meet conditions in specified A.P. (DIR Series) circulars and are eligible for the concessional swap facility.
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Overseas borrowing flexibility for authorised banks expanded, with conditional access for general banking and swap eligibility.
Authorised Dealer Category I banks may borrow overseas from head offices, overseas branches, correspondents or other entities permitted by the Reserve Bank up to one hundred per cent of unimpaired Tier I capital or the specified floor amount, subject to conditions directed by the Reserve Bank. Temporary permission is granted to borrow from international and multilateral financial institutions until November 30, 2013 for general banking business (not capital augmentation); such borrowings must meet conditions in specified A.P. (DIR Series) circulars and are eligible for the concessional swap facility.
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