Indian banks eye overseas bonds to meet Basel III
MUMBAI (Reuters) - Some Indian banks are looking to issue bonds in overseas markets to raise capital under Basel III guidelines, a senior Reserve Bank of India official said on the sidelines of an event on Thursday.
Chandan Sinha, the chief general manager of the Department of Banking Operations and Development, also said rules to allow credit enhancement for domestic corporate bonds are likely to come by December.
Credit enhancement would allow lower-ranked borrowers to have ratings for their debt enhanced by third parties such as banks, which would provide some form of backing for the debt via, for example, additional collateral or insurance.
(Reporting by Archana Narayanan and Suvashree Dey Choudhury; Writing by Swati Bhat; Editing by Rafael Nam)
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Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article