RBI lifts ban on cross-holding of senior bonds of banks

April 7, 2015 7:56 AM

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SINGAPORE, April 7 (IFR) - The Reserve Bank of India has allowed cross-holding of senior bonds of Indian lenders, subject to certain conditions including that the proceeds of such bonds should be used for financing of infrastructure and affordable housing.

The central bank announced the decision in its first bi-monthly monetary policy statement today. Detailed guidelines will be issued shortly, the RBI said.

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