Guidelines for issuing preference shares as part of regulatory capital
DBOD.No.BP.BC. 120 /21.01.002/2008-2009
The Chairman and Managing Director/
Chief Executive Officers of Commercial Banks
(Excluding Foreign Banks, RRBs and LABs)
Dear Sir
Guidelines for issuing preference shares as part of regulatory capital
Please refer to our circular DBOD.No.BP.BC.42/21.01.002/2007-08 dated October 29, 2007 on the Guidelines for issuing preference shares as part of regulatory capital.
2.It has been decided to partially modify Para 1.7 (b) & (c) of Annex -- I and Para 1.8.1(d) & (e), Para 1.8.2 of Annex- II of the circular which will read as follows:
Annex -- I
Guidelines on Perpetual Non-Cumulative Preference Shares (PNCPS) as part of Tier I capital
1.7 Payment of Dividend
(b) The dividend shall not be cumulative. i.e., dividend missed in a year will not be paid in...
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