Notifications

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Financing of Infrastructure - Definition of 'Infrastructure Lending'

RBI/2013-14/386
DNBS.PD.CC.No. 362/03.10.001/2013-14

November 29, 2013

All NBFCs

Dear Sir / Madam,

Financing of Infrastructure - Definition of 'Infrastructure Lending'

Please refer to our Circular DNBS.PD.CC.No. 354/03.10.001/2013-14 dated August 02, 2013 on Financing of Infrastructure - Definition of 'Infrastructure Lending'.

2. Government of India, vide its Gazette Notification dated October 7, 2013  has updated the Harmonised Master List of Infrastructure sub-sectors and the following new sub-sectors have been added in the Master List:

i. Hotels with project cost of more than Rs.200 crores each in any place in India and of any star rating.
ii. Convention Centres with project cost of more than Rs.300 crores each.

3. Accordingly, the extant definition of infrastructure loan given in the NBFC Prudential Norms Directions, 2007 stands amended with immediate effect. The revised definition of infrastructure lending is given in the Annex to this circular. Also please find enclosed the amending notifications of date for meticulous compliance.

Yours faithfully,

(N.S.Vishwanathan)
Principal Chief General Manager


Annex
List of sub-sectors for ‘Infrastructure Lending’

A credit facility extended by lenders (i.e. NBFCs) to a borrower for exposure in the following infrastructure sub-sectors will qualify as "Infrastructure lending" :

Sr.
No.

Category

Infrastructure sub-sectors

1.

Transport

i

Roads and bridges

ii

Ports1

iii

Inland Waterways

iv

Airport

v

Railway Track, tunnels, viaducts, bridges2

vi

Urban Public Transport (except rolling stock in case of urban road transport)

2.

Energy

i

Electricity Generation

ii

Electricity Transmission

iii

Electricity Distribution

iv

Oil pipelines

v

Oil / Gas / Liquefied Natural Gas (LNG) storage facility3

vi

Gas pipelines4

3.

Water & Sanitation

i

Solid Waste Management

ii

Water supply pipelines

iii

Water treatment plants

iv

Sewage collection, treatment and disposal system

v

Irrigation (dams, channels, embankments etc)

vi

Storm Water Drainage System

vii

Slurry Pipelines

4.

Communication

i

Telecommunication (Fixed network)5

ii

Telecommunication towers

iii

Telecommunication & Telecom Services

5.

Social and Commercial Infrastructure

i

Education Institutions (capital stock)

ii

Hospitals (capital stock)6

iii

Three-star or higher category classified hotels located outside cities with population of more than 1 million

iv

Common infrastructure for industrial parks, SEZ, tourism facilities and agriculture markets

v

Fertilizer (Capital investment)

vi

Post harvest storage infrastructure for agriculture and horticultural produce including cold storage

vii

Terminal markets

viii

Soil-testing laboratories

ix

Cold Chain7

 

 

x

Hotels with project cost8 of more than Rs.200 crores each in any place in India and of any star rating.

 

 

xi

Convention Centres with project cost8 of more than Rs.300 crores each

Notes

1.

Includes Capital Dredging

2.

Includes supporting terminal infrastructure such as loading / unloading terminals, stations and buildings

3.

Includes strategic storage of crude oil

4.

Includes city gas distribution network

5.

Includes optic fibre / cable networks which provide broadband / internet

6.

Includes Medical Colleges, Para Medical Training Institutes and Diagnostics Centres

7.

Includes cold room facility for farm level pre-cooling, for preservation or storage of agriculture and allied produce, marine products and meat.

8.

Applicable with prospective effect from the date of this circular and available for eligible projects for a period of three years; Eligible costs exclude cost of land and lease charges but include interest during construction.



RESERVE BANK OF INDIA
DEPARTMENT OF NON-BANKING SUPERVISION
CENTRAL OFFICE
CENTRE I, WORLD TRADE CENTRE
CUFFE PARADE, COLABA
MUMBAI 400 005

Notification No. DNBS.265 /PCGM(NSV)-2013

November 29, 2013

The Reserve Bank of India, having considered it necessary in public interest and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 (hereinafter referred to as the said Directions) contained in Notification No.DNBS.192/DG(VL)-2007 dated February 22, 2007, in exercise of the powers conferred by section 45JA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said Directions shall be amended with immediate effect as follows –

Amendment of paragraph 2(1)(viii)

Paragraph 2(1) (viii) may be replaced with the following :

A credit facility extended by lenders (i.e. NBFCs) to a borrower for exposure in the following infrastructure sub-sectors will qualify as "Infrastructure lending" :

Sr. No.

Category

Infrastructure sub-sectors

1.

Transport

i

Roads and bridges

ii

Ports1

iii

Inland Waterways

iv

Airport

v

Railway Track, tunnels, viaducts, bridges2

vi

Urban Public Transport (except rolling stock in case of urban road transport)

2.

Energy

i

Electricity Generation

ii

Electricity Transmission

iii

Electricity Distribution

iv

Oil pipelines

v

Oil / Gas / Liquefied Natural Gas (LNG) storage facility3

vi

Gas pipelines4

3.

Water & Sanitation

i

Solid Waste Management

ii

Water supply pipelines

iii

Water treatment plants

iv

Sewage collection, treatment and disposal system

v

Irrigation (dams, channels, embankments etc)

vi

Storm Water Drainage System

vii

Slurry Pipelines

4.

Communication

i

Telecommunication (Fixed network)6

ii

Telecommunication towers

iii

Telecommunication & Telecom Services

5.

Social and Commercial Infrastructure

i

Education Institutions (capital stock)

ii

Hospitals (capital stock)6

iii

Three-star or higher category classified hotels located outside cities with population of more than 1 million

iv

Common infrastructure for industrial parks, SEZ, tourism facilities and agriculture markets

v

Fertilizer (Capital investment)

vi

Post harvest storage infrastructure for agriculture and horticultural produce including cold storage

vii

Terminal markets

viii

Soil-testing laboratories

ix

Cold Chain7

 

 

x

Hotels with project cost8 of more than Rs.200 crores each in any place in India and of any star rating.

 

 

xi

Convention Centres with project cost8 of more than Rs.300 crores each

Notes

1.

Includes Capital Dredging

2.

Includes supporting terminal infrastructure such as loading / unloading terminals, stations and buildings

3.

Includes strategic storage of crude oil

4.

Includes city gas distribution network

5.

Includes optic fibre / cable networks which provide broadband / internet

6.

Includes Medical Colleges, Para Medical Training Institutes and Diagnostics Centres

7.

Includes cold room facility for farm level pre-cooling, for preservation or storage of agriculture and allied produce, marine products and meat.

8. Applicable with prospective effect from the date of this circular and available for eligible projects for a period of three years; Eligible costs exclude cost of land and lease charges but include interest during construction.

(N.S.Vishwanathan)
Principal Chief General Manager

RESERVE BANK OF INDIA
DEPARTMENT OF NON-BANKING SUPERVISION
CENTRAL OFFICE
CENTRE I, WORLD TRADE CENTRE
CUFFE PARADE, COLABA
MUMBAI 400 005
Notification No. DNBS.  266 /PCGM(NSV)-2013

November  29, 2013

The Reserve Bank of India, having considered it necessary in public interest and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 (hereinafter referred to as the said Directions) contained in Notification No. DNBS.193/DG(VL)-2007 dated February 22, 2007, in exercise of the powers conferred by section 45JA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said Directions shall be amended with immediate effect as follows, namely –

Amendment of paragraph 2(1)(viii)

Paragraph 2(1)(viii) may be replaced with the following :

A credit facility extended by lenders (i.e. NBFCs) to a borrower for exposure in the following infrastructure sub-sectors will qualify as "Infrastructure lending":

Sr.
No.

Category

Infrastructure sub-sectors

1.

Transport

i

Roads and bridges

ii

Ports1

iii

Inland Waterways

iv

Airport

v

Railway Track, tunnels, viaducts, bridges2

vi

Urban Public Transport (except rolling stock in case of urban road transport)

2.

Energy

i

Electricity Generation

ii

Electricity Transmission

iii

Electricity Distribution

iv

Oil pipelines

v

Oil / Gas / Liquefied Natural Gas (LNG) storage facility3

vi

Gas pipelines4

3.

Water & Sanitation

i

Solid Waste Management

ii

Water supply pipelines

iii

Water treatment plants

iv

Sewage collection, treatment and disposal system

v

Irrigation (dams, channels, embankments etc)

vi

Storm Water Drainage System

vii

Slurry Pipelines

4.

Communication

i

Telecommunication (Fixed network)5

ii

Telecommunication towers

iii

Telecommunication & Telecom Services

5.

Social and Commercial Infrastructure

i

Education Institutions (capital stock)

ii

Hospitals (capital stock)6

iii

Three-star or higher category classified hotels located outside cities with population of more than 1 million

iv

Common infrastructure for industrial parks, SEZ, tourism facilities and agriculture markets

v

Fertilizer (Capital investment)

vi

Post harvest storage infrastructure for agriculture and horticultural produce including cold storage

vii

Terminal markets

viii

Soil-testing laboratories

ix

Cold Chain7

 

 

x

Hotels with project cost8 of more than Rs.200 crores each in any place in India and of any star rating.

 

 

xi

Convention Centres with project cost8 of more than Rs.300 crores each

Notes

1.

Includes Capital Dredging

2.

Includes supporting terminal infrastructure such as loading / unloading terminals, stations and buildings

3.

Includes strategic storage of crude oil

4.

Includes city gas distribution network

5.

Includes optic fibre / cable networks which provide broadband / internet

6.

Includes Medical Colleges, Para Medical Training Institutes and Diagnostics Centres

7.

Includes cold room facility for farm level pre-cooling, for preservation or storage of agriculture and allied produce, marine products and meat.

8. Applicable with prospective effect from the date of this circular and available for eligible projects for a period of three years; Eligible costs exclude cost of land and lease charges but include interest during construction.

(N.S.Vishwanathan)
Principal Chief General Manager


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