RBI allows Non-Deposit taking NBFCs to raise Short Term Foreign Funds with Prior Approval - ಆರ್ಬಿಐ - Reserve Bank of India
RBI allows Non-Deposit taking NBFCs to raise Short Term Foreign Funds with Prior Approval
The Reserve Bank recently allowed Systemically Important Non-Deposit taking Non-Banking Financial Companies (NBFCs-ND-SI) to raise funds by issuing Perpetual Debt Instruments that can be included in their Tier 1 capital. It has now been decided as a temporary measure, to permit NBFCs-ND-SI to raise short- term foreign currency borrowings, under the approval route, subject to the following conditions. i) Eligibility: NBFCs-NDSI, complying with the prudential norms on capital adequacy and exposure norms. NBFC- ND-SIs proposing to avail of the facility should apply to the Chief General Manager –in- Charge, Department of Non Banking Supervision (DNBS), Reserve Bank of India, Central Office, Centre 1, World Trade Centre, Cuffe Parade, Colaba, Mumbai - 400005 with full details for the necessary approval.
Press Release : 2008-2009/602 |