Indias central bank raised limits for overseas bond investors that could lure $16 billion of new funds, the third policy move in two weeks to spur demand in the nations debt markets.
Foreign investors will be allowed to increase holdings by 1.04 trillion rupees ($16 billion) for the fiscal year to March 2019, the Reserve Bank of India said in a statement Friday. It raised the limits for sovereign debt by half a percentage point, while changing how much investors can own of corporate bonds to 9 percent of outstanding notes from a fixed amount.
Prime Minister Narendra Modis administration is seeking to revive a sovereign debt market that had sold off for seven months, with the higher yields threatening his borrowing plans. Havi…
Read the full article at: https://www.bloomberg.com/news/articles/2018-04-08/bond-investors-get-access-to-16-billion-of-extra-debt-in-india
