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of <h1>RBI Permits Indian Banks to Issue Rupee Bonds Overseas for Infrastructure and Housing, Aligns with Basel III Regulations.</h1> The Reserve Bank of India has allowed Indian banks to issue Rupee Denominated Bonds overseas to raise capital and finance infrastructure and affordable housing. This decision aligns with measures announced on August 25, 2016, aimed at developing fixed income and currency markets in India. Indian banks can now issue Perpetual Debt Instruments and long-term bonds overseas within the foreign investment limit for corporate bonds. These instruments must comply with existing Basel III Capital Regulations and guidelines on long-term bonds for infrastructure and affordable housing. The circular modifies previous restrictions, enabling banks to act as issuers, effective immediately.
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