Enhancement of limit of Overseas Foreign Currency Borrowings by Banks

The Reserve Bank of India (RBI) has said that it has been decided to lower the requirement of
minimum maturity from three years to one year for the aforesaid borrowings made on or before
November 30, 2013 for the purpose of availing of the Swap facility from the Reserve Bank of
India. It may be noted that after the said date, foreign currency borrowing by AD Category I
banks beyond 50% of their Tier I Capital shall have to be of a minimum maturity of three years.