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Saturday 23 September 2017

RBI eases foreign investment rules for corporate debt


The Reserve Bank of India (RBI) on Friday eased rules governing foreign investment in corporate bonds by excluding rupee-denominated securities from its overall debt limit.

 

The move potentially freed up 440 billion rupees ($6.79 billion) of debt available to offshore investors.

 

Access to the corporate bonds by foreign investors will be phased in over the next two quarters -- 270 billion rupees during October-December and 170 billion rupees in January-March, the Reserve Bank of India said in a circular.

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