India cbank allows companies to issue debt to non-resident shareholders as bonus

MUMBAI Mon Jan 6, 2014 4:32am EST

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MUMBAI Jan 6 (Reuters) - The Reserve Bank of India on Monday allowed Indian companies to issue non-convertible, redeemable bonus preference shares and debentures to non-residents from its reserves.

The RBI added that the permission was not applicable for non-convertible preference shares. (Reporting by Suvashree Dey Choudhury; Editing by Prateek Chatterjee)

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