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August 2015

A. P. (DIR Series) Circular No. 112 dated 25th June, 2015

By Gaurang Gandhi Chartered Accountant
Reading Time 1 mins
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Overseas Foreign Currency Borrowings by Authorised Dealer Banks

This circular grants general permission banks to borrow from international/multilateral financial institutions (including International/Multilateral Financial Institutions of which Government of India is a shareholding member or which have been established by more than one government or have shareholding by more than one government and other international organisations) for general banking business. The borrowings are subject to applicable prudential conditions and cannot be used for capital augmentation purposes.

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