indian-banks-allowed-further-foreign-currency-fund-raising

Indian banks allowed further foreign currency fund raising

The Central Bank relaxes guidelines on issuance of foreign currency debt and hybrid instruments.
IndiaÆs central bank, the Reserve Bank of India RBI, last Friday July 21 issued new guidelines that will make it easier for banks to augment their capital by issuing foreign currency debt and hybrid instruments.

In a statement, the RBI said the intent of the relaxation was to provide banks in India with additional options to raise capital to meet both their business needs and Basel II capital adequacy norms.

The statement relaxes earlier guidelines, issued by the RBI on January 25 this year, which stated that banks could issue such instruments in Indian rupees but were required to obtain RBI approval on a case-by-case basis for an issue in foreign currency.

As per...
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