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of <h1>Rupee Bonds Abroad: Corporates, REITs, and InvITs Can Issue Under ECB Policy; USD 750 Million Cap Annually.</h1> The circular outlines a framework for issuing Rupee-denominated bonds overseas under the External Commercial Borrowings (ECB) policy. Eligible issuers include corporates, Real Estate Investment Trusts (REITs), and Infrastructure Investment Trusts (InvITs). Investors must be from Financial Action Task Force (FATF) compliant jurisdictions. Bonds have a minimum maturity of five years, with costs aligned to market conditions. There are no end-use restrictions except for a negative list, which includes real estate activities, capital market investments, and land purchases. The issuance amount is capped at USD 750 million annually under the automatic route, with higher amounts requiring Reserve Bank approval.
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