External commercial borrowing policy (ECB) –Issuance of Rupee denominated bond overseas.

In order to facilitate Rupee denominated borrowing from overseas, it has been decided to put in place a framework for issuance of Rupee denominated bonds overseas within the overarching ECB policy. Eligible Borrowers are corporate or body corporate as well as Real Estate investment trusts (REIT’s) and Infrastructure Investment Trusts. Its minimum maturity period is 5 years and there are no end use restrictions except negative list.

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