Issuance of Rupee denominated bonds overseas by Indian banks

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....ced by the Reserve Bank on August 25, 2016 for development of Fixed Income and Currency Markets in India which, inter alia, proposed to permit banks to issue Rupee Denominated Bonds overseas for their capital requirements and for financing infrastructure and affordable housing and Circular DBR.BP.BC.No.28/21.06.001/2016-17 dated November 3, 2016. 2. In line with the announcement made, with a view....

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.... on Issuance of Rupee Denominated Bonds Overseas read with paragraph No. 3.3.2 and 3.3.3 of Master Direction No.5 dated January 1, 2016 on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers as amended from time to time, which allow Indian banks to participate in the space of Rupee Denominated Bonds....

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....ubsidiaries of Indian banks for such issuances will not be allowed. 4. All other provisions of aforesaid circulars dated September 29, 2015 and April 13, 2016 remain unchanged. 5. The changes / revised instructions in respect of issuance of Rupee denominated bonds will be applicable from the date of issuance of this circular. 6. Relevant paragraphs of the Master Direction No. 5 dated January 01....