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RBI extends buyback period of FCCBs until Dec 31

The time period for buyback of FCCBs had expired on March 31

June 26, 2013 3:38 IST | India Infoline News Service
The Reserve Bank of India (RBI) extended the time period for buyback of foreign currency convertible bonds (FCCBs) by companies under the approval route to December 31, 2013.

The time period for buyback of FCCBs had expired on March 31.

Considering the developments in the global financial markets, it has been decided that the existing scheme of Buyback / Prepayment of FCCBs under the approval route which expired on March 31, 2013 may be continued till December 31, 2013 and shall stand discontinued thereafter, RBI said in a notification on Tuesday.

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