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RBI-Flexible Structuring of Long Term Project Loans to Infrastructure and Core Industries
January, 20th 2015

RBI/2014-15/413
DNBR.PD.CC.No.012/03.10.001/2014-15

January 19, 2015

All NBFCs

Dear Sirs,

Flexible Structuring of Long Term Project Loans to Infrastructure and Core Industries

Based on the announcement made in the Union Budget 2013-14, Reserve Bank issued guidelines to banks for flexible structuring and refinancing of fresh term loans to long term project loans to infrastructure and core industries vide circulars DBOD.No.BP.BC.24/ 21.04.132/2014-15 dated July 15, 2014 and DBR.No.BP.BC.53/21.04.132/2014-15 dated December 15, 2014.

2. NBFCs also are engaged in financing of long term project loans to infrastructure and core industries. While Reserve Bank’s extant instructions do not come in the way of NBFCs structuring long term project financing products, requests have been made by the industry, for extending the above guidelines to them. Accordingly, it has been decided to issue necessary directions to NBFCs.

3. The directions contained in the notifications of date amending the Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 and Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 are enclosed for meticulous compliance.

Yours faithfully,

(A. Mangalagiri)
General Manager-in-Charge

 
 
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