Rupee denominated bonds overseas now permitted for Indian banks as issuers for capital and long term infrastructure funding. Indian banks may issue Rupee denominated bonds overseas within the foreign investment limit for corporate bonds, including Perpetual Debt Instruments qualifying as Additional Tier 1 capital, Tier 2 debt instruments, and long term rupee bonds for infrastructure and affordable housing. Such issuances must comply with Basel III capital regulations and the Reserve Bank's guidelines on long term bonds for infrastructure and affordable housing. Underwriting by overseas branches or subsidiaries of Indian banks is not permitted. The change treats Indian banks as eligible borrowers while other provisions remain unchanged.
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Provisions expressly mentioned in the judgment/order text.
Rupee denominated bonds overseas now permitted for Indian banks as issuers for capital and long term infrastructure funding.
Indian banks may issue Rupee denominated bonds overseas within the foreign investment limit for corporate bonds, including Perpetual Debt Instruments qualifying as Additional Tier 1 capital, Tier 2 debt instruments, and long term rupee bonds for infrastructure and affordable housing. Such issuances must comply with Basel III capital regulations and the Reserve Bank's guidelines on long term bonds for infrastructure and affordable housing. Underwriting by overseas branches or subsidiaries of Indian banks is not permitted. The change treats Indian banks as eligible borrowers while other provisions remain unchanged.
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