Diplomacy
Chinese Premier Li Keqiang seeks trust in India as border issue continues to irk
Chinese Premier Li Keqiang is seeking to build trust with India on his first foreign trip since taking office, which comes just a few weeks after a military standoff between the Asian giants on their ill-defined border in the Himalayan mountains. Full Article | Slideshow
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Investment limit in govt, corporate bonds to be raised
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An employee sorts Indian currency notes at a cash counter inside a bank in Agartala February 18, 2010. shares.
Credit: Reuters/Jayanta Dey/Files
MUMBAI |
MUMBAI (Reuters) - The government will raise the limit on foreign investments in government and corporate bonds by $5 billion each, said a finance ministry official who declined to be named, in a move intended to attract more funds into the country.
India currently caps the total amount that foreign institutional investors can buy in domestic debt at $65 billion, which is distributed through categories of government, corporate and infrastructure bonds, some of which include tenor or lock-in restrictions.
The increase in limits will be effective in the next seven to ten days, the official said on Friday.
(Reporting by Arup Roychoudhury; Editing by Tony Munroe)
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