In order to liberalise the bond market, the RBI in its April 7, 2015 monetary policy, allowed companies to sell offshore rupee-denominated bonds.
Indian Railways Finance Corp said that it is keen to raise rupee-denominated offshore bonds, according to a media report.
At present, IRFC is discussing such bonds with investment banks. IRFC is expected to raise Rs. 6,300 crore through such an offer, the report added.
However, no exact details have been provided about the launch of the bonds. In order to liberalise the bond market, the RBI in its April 7, 2015 monetary policy, allowed companies to sell offshore rupee-denominated bonds.
it is proposed to expand, in consultation with the government of India, the scope of such bond issues by the international financial institutions as also to permit Indian corporates eligible to raise external commercial borrowing (ECB) through issuance of rupee bonds in overseas centres with an appropriate regulatory framework,” RBI said in its policy statement.
The funds would be used by Indian Railways to renovate the railway network, introduce bullet trains and AC trains in Mumbai, the report added.
At present, IRFC is discussing such bonds with investment banks. IRFC is expected to raise Rs. 6,300 crore through such an offer, the report added.
However, no exact details have been provided about the launch of the bonds. In order to liberalise the bond market, the RBI in its April 7, 2015 monetary policy, allowed companies to sell offshore rupee-denominated bonds.
it is proposed to expand, in consultation with the government of India, the scope of such bond issues by the international financial institutions as also to permit Indian corporates eligible to raise external commercial borrowing (ECB) through issuance of rupee bonds in overseas centres with an appropriate regulatory framework,” RBI said in its policy statement.
The funds would be used by Indian Railways to renovate the railway network, introduce bullet trains and AC trains in Mumbai, the report added.
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