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November 2013

A. P. (DIR Series) Circular No. 54 dated 25th September, 2013

By Gaurang Gandhi, Chartered Accountant

Reading Time 1 mins

Overseas Foreign Currency Borrowings by Authorised Dealer Banks – Enhancement of limit

This circular has modified the minimum maturity period for all fresh foreign currency borrowings by Authorized Dealers as under: –

1. Borrowings made on or before November 30, 2013 for the purpose of availing of the Swap facility from RBI – the minimum maturity period has been reduced from 3 years to 1 year.

2. Borrowings made after 30th November, 2013: –

a. Up to 50% of their unimpaired Tier I capital – the minimum maturity period can be 1 year.

b. Beyond 50% of their unimpaired Tier I capital – the minimum maturity period has to be 3 years.

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November 2013

A. P. (DIR Series) Circular No. 54 dated 25th September, 2013

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November 2013

A. P. (DIR Series) Circular No. 54 dated 25th September, 2013

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A. P. (DIR Series) Circular No. 53 dated 24th September, 2013

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