Overseas Foreign Currency Borrowings by Authorised Dealers – Rationalisation and Monitoring

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..... urrency Borrowings by Authorised Dealers - Rationalisation and Monitoring Authorised Dealers (ADs) are allowed to borrow in foreign currency in the circumstances and subject to such conditions as mentioned under Regulation 4(2) of Notification No.FEMA 3/2000-RB dated May 3, 2000. 2. Accordingly, in terms of paragraph No.C.5(i) of RBI Master Circular on Risk Management and Inter-Bank Dealin .....

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..... addition, ADs may also avail of external commercial borrowings (ECBs) for specific purposes under the ECB Policy against specific approval from the Reserve Bank of India. 4. It has now been decided to rationalise the existing facilities for overseas borrowings and introduce a monitoring and reporting system for all ADs. Accordingly, the facilities available under paragraph Nos.C.5(i) and (ii) o .....

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..... r is higher : i. Overseas borrowings by ADs for the purposes of financing export credit subject to the conditions prescribed in IECD Master Circular dated July 1, 2003 on Export Credit in Foreign Currency. ii. Subordinated debt placed by head offices of foreign banks with their branches in India as Tier-II capital. 6. All ADs are advised to report their total outstanding overseas foreign c .....

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..... ncy Borrowings as on ………. Amount (in equivalent # USD) Sr. No. Item Amount A Tier-I capital as at the close of previous quarter…….. Category of Borrowing 1 Borrowings in terms of Para C.5 (i) of Master Circular on Risk Management and Inter-Bank Dealings dated July 1, 2003 2 Borrowings in exc .....

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..... +6) expressed as a percentage of Tier-I capital at A Note: 1. # RBI reference rate and New York closing rates on the date of report may be used for conversion purpose. 2. * Facility since withdrawn vide para 4 of this circular. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindi .....

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