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Prashanth Venkatesh

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Posted by Pallavi Gopinath Aney and Prashanth Venkatesh of Baker & McKenzie.Wong & Leow.

Following IFC’s rupee denominated offerings (and the considerable success of such offerings), on 29 September 2015, the Reserve Bank of India (RBI) amended the External Commercial Borrowings (ECB) policy to set out rules for the issuance of rupee-denominated bonds overseas.

These amendments should be read together with the RBI’s new framework on ECBs announced on 30 November 2015. Our client alert on the new ECB framework is available here.