‘Fully Accessible Route’ for Investment by Non-residents in Government Securities – Inclusion of Sovereign Green Bonds
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RBI/2024-25/88 November 07, 2024 To Madam/Sir, ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities – Inclusion of Sovereign Green Bonds A reference is invited to the Press Release on ‘Issuance Calendar for Marketable Dated Securities for October 2024 – March 2025’ dated September 26, 2024, issued by the Reserve Bank, notifying, inter alia, the issuance calendar for Sovereign Green Bonds for the second half of the fiscal year 2024-25. Attention is also invited to the Fully Accessible Route (FAR) introduced by the Reserve Bank, vide A.P. (DIR Series) Circular No. 25 dated March 30, 2020, wherein certain specified categories of Central Government securities were opened fully for non-resident investors without any restrictions, apart from being available to domestic investors as well. 2. The Government Securities that are eligible for investment under the FAR (‘specified securities’) were notified by the Bank vide the following circulars: 3. It has now been decided to also designate Sovereign Green Bonds of 10-year tenor issued by the Government in the second half of the fiscal year 2024-25 as ‘specified securities’ under the FAR. 4. The Directions contained in this circular have been issued under Section 45W of Chapter IIID of the Reserve Bank of India Act, 1934 and are without prejudice to permissions/ approvals, if any, required under any other law. 5. These Directions shall be applicable with immediate effect. Yours faithfully, (Dimple Bhandia) |