Shares in IDFC Ltd gained as much as 10 per cent today after the Reserve Bank of India on Tuesday issued new guidelines under which banks would be exempted from reserve requirements when raising long-term bonds for infrastructure.
IDFC, the infrastructure lender that obtained a banking license in April, is seen as one of the main beneficiaries of the measures.
Vikram Limaye, managing director and chief executive officer of IDFC, told NDTV that "the new infra financing norms don't currently apply to us as we are still not a bank. It will be applicable to us from October 2015 which is when we are expected to operationlise the bank."
He added: "Our reading of the RBI circular indicates that perhaps this benefit will be applicable to all the projects/loans we will have on our books as on October 2015. And to the extent we have long tenor bonds the new norms could be applicable. Some of the drag CRR, SLR and other reserve requirements could be significantly lower when we start operations."
Shares in IDFC Ltd gained as much as 10 per cent today after the Reserve Bank of India on Tuesday issued new guidelines under which banks would be exempted from reserve requirements when raising long-term bonds for infrastructure.
IDFC, the infrastructure lender that obtained a banking license in April, is seen as one of the main beneficiaries of the measures.
Vikram Limaye, managing director and chief executive officer of IDFC, told NDTV that "the new infra financing norms don't currently apply to us as we are still not a bank. It will be applicable to us from October 2015 which is when we are expected to operationlise the bank."
He added: "Our reading of the RBI circular indicates that perhaps this benefit will be applicable to all the projects/loans we will have on our books as on October 2015. And to the extent we have long tenor bonds the new norms could be applicable. Some of the drag CRR, SLR and other reserve requirements could be significantly lower when we start operations."
Shares in IDFC Ltd gained as much as 10 per cent today after the Reserve Bank of India on Tuesday issued new guidelines under which banks would be exempted from reserve requirements when raising long-term bonds for infrastructure.
IDFC, the infrastructure lender that obtained a banking license in April, is seen as one of the main beneficiaries of the measures.
Vikram Limaye, managing director and chief executive officer of IDFC, told NDTV that "the new infra financing norms don't currently apply to us as we are still not a bank. It will be applicable to us from October 2015 which is when we are expected to operationlise the bank."
He added: "Our reading of the RBI circular indicates that perhaps this benefit will be applicable to all the projects/loans we will have on our books as on October 2015. And to the extent we have long tenor bonds the new norms could be applicable. Some of the drag CRR, SLR and other reserve requirements could be significantly lower when we start operations."
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