India tweaks rules for offshore borrowings

By Shruti Chaturvedi
07 Apr 2016

The Reserve Bank of India has rolled back some rule changes governing international borrowings by non-bank financial companies (NBFCs) and infrastructure firms, allowing issuers to access the foreign currency offshore debt market once again.

According to rules announced in November, NBFCs and firms that support infrastructure are only eligible to raise offshore foreign currency debt so long as the minimum average maturity was 10 years. The central bank’s intent then was to try and reduce the foreign currency risk faced by Indian ...

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