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of <h1>RBI Amends Foreign Currency Borrowing Limits for Banks Under FEMA 1999, Valid Until Nov 30, 2013.</h1> The circular addresses Category I Authorised Dealer Banks, highlighting amendments to regulations governing overseas foreign currency borrowings. The Reserve Bank of India has revised the borrowing limits, allowing banks to borrow up to 100% of their unimpaired Tier I capital or USD 10 million, whichever is higher, from their Head Office, overseas branches, or other permitted entities. This amendment aims to provide greater flexibility in accessing overseas funds. The permission is valid until November 30, 2013, for general banking purposes, excluding capital augmentation, and is eligible for the RBI's concessional swap facility. The circular is issued under the Foreign Exchange Management Act, 1999.
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