RBI says foreign investment in non-convertible shares to be part of corp debt limits

MUMBAI Fri Jun 6, 2014 8:05pm IST

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MUMBAI (Reuters) - Reserve Bank of India (RBI) said on Friday it has decided to include investments in non-convertible shares, redeemable preference shares and debentures within the $51 billion limit reserved for foreign investment in corporate debt in India.

The RBI said all registered foreign institutional investors (FIIs), qualified foreign investors (QFIs), foreign portfolio investors (FPIs) and long-term investors such as sovereign wealth funds (SWFs) would be allowed to buy convertible shares as part of the corporate debt investment quota.

(Reporting by Himank Sharma; Editing by Subhranshu Sahu)

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