https://www.taxtmi.com/circulars?id=54013 Permits residents with long-term foreign currency borrowings to enter into FCY-INR swaps with MFIs/IFIs in which the Government of India is a shareholder, provided swaps are undertaken on a back-to-back basis with AD Category-I banks, limited to such MFIs/IFIs, comply with existing FCY-INR swap operational guidelines, have a minimum tenor of three years, require the MFI/IFI to bring foreign currency funds in event of borrower default, and mandate AD Category-I banks to report transactions and borrower details on the CCIL reporting platform. en-us Thu, 05 Nov 2015 00:00:00 +0530 Thu, 05 Nov 2015 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54013 Permits residents with long-term foreign currency borrowings to enter into FCY-INR swaps with MFIs/IFIs in which the Government of India is a shareholder, provided swaps are undertaken on a back-to-back basis with AD Category-I banks, limited to such MFIs/IFIs, comply with existing FCY-INR swap operational guidelines, have a minimum tenor of three years, require the MFI/IFI to bring foreign currency funds in event of borrower default, and mandate AD Category-I banks to report transactions and borrower details on the CCIL reporting platform. Circulars FEMA Thu, 05 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54013