No plans for sovereign bond issue - India official

NEW DELHI, Oct 8 (Reuters) - India has no plans to go in for a sovereign bond issue, a finance ministry official said on Wednesday, after a newspaper said it was planning such a move.

The Business Standard said the government was considering issuing a sovereign long-term dollar-denominated bond overseas to raise funds and help Indian banks and companies hit by a liquidity squeeze.

"There is no such proposal at present to issue long-term overseas bonds," the official, who did not wish to be identified, told reporters.

He also said the government was considering further easing of overseas borrowing rules for firms but did not give a time frame. (Reporting by Manoj Kumar, Editing by Mark Williams)