RBI notifies easier norms on bond sales for infrastructure, affordable housing

MUMBAI: Banks can raise long-term funds to lend to affordable housing and infrastructure, the Reserve Bank of India (RBI) said on Tuesday. The seven-year bond with no secondary market trading option can be issued by banks at a fixed or variable rate. As announced in the Budget, the bonds will not attract any statutory pre-emption such as cash reserve ratio (CRR) or statutory liquidity ratio (SLR). Besides, they need not set aside additional funds for ..