The Reserve Bank of India (RBI) vide RBI/2012-13/544 A.P. (DIR Series) Circular No. 115 dated June 25, 2013 has reviewed and decided that the existing scheme of Buyback / Prepayment of Foreign Currency Convertible Bonds (FCCBs) under the approval route which had expired on March 31, 2013, may be continued till December 31, 2013. Thereafter, the same shall stand discontinued, considering the developments in the global financial markets as stated in the circular.