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    <title>Issuance of Rupee denominated bonds overseas – Multilateral and Regional Financial Institutions as Investors</title>
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    <description>Permit Multilateral and Regional Financial Institutions where India is a member to invest in Rupee denominated bonds issued overseas, expanding the recognised investor class under prior circulars; all other provisions of A. P. (DIR Series) Circular No.60 (April 13, 2016), Master Direction No.5 (January 1, 2016) and A. P. (DIR Series) Circular No.29 (September 29, 2015) remain unchanged. The change is effective from the date of this circular, relevant Master Direction paragraphs will be updated, and the directions are issued under sections 10(4) and 11(2) of FEMA, 1999.</description>
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      <description>Permit Multilateral and Regional Financial Institutions where India is a member to invest in Rupee denominated bonds issued overseas, expanding the recognised investor class under prior circulars; all other provisions of A. P. (DIR Series) Circular No.60 (April 13, 2016), Master Direction No.5 (January 1, 2016) and A. P. (DIR Series) Circular No.29 (September 29, 2015) remain unchanged. The change is effective from the date of this circular, relevant Master Direction paragraphs will be updated, and the directions are issued under sections 10(4) and 11(2) of FEMA, 1999.</description>
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