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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