All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Issue of Rupee Denominated Bonds
Please refer to A.P. (DIR Series) Circular No.14 dated November 03, 2016 on
issue of rupee denominated bonds overseas by Indian banks.
2. We advise that banks are
permitted to raise funds through issuance of rupee denominated bonds
overseas for the following purposes:
Debt Instruments (PDI) qualifying for inclusion as Additional Tier 1
capital under the extant Basel III Capital Regulations prescribed vide circular Ref. DBR.No.BP.BC.1/21.06.201/2015-16 dated
July 1, 2015, as amended from time to time;
capital instruments qualifying for inclusion as Tier 2 capital under the
extant Basel III Capital Regulations prescribed vide circular Ref. DBR.No.BP.BC.1/21.06.201/2015-16 dated
July 1, 2015 as amended from time to time;
of infrastructure and affordable housing in terms of instructions contained
in circular Ref.
DBOD.BP.BC.No.25/08.12.014/2014-15 dated July 15, 2014 on Issue
of Long Term Bonds by Banks - Financing of Infrastructure and Affordable
Housing, as amended from time to time.
3. The issuances as above shall
be subject to all applicable prudential norms and FEMA guidelines.
(Ajay Kumar Choudhary)
Chief General Manager