September 28, 2017 / 12:12 PM / a year ago

RBI increases foreign investment limits for debt

MUMBAI (Reuters) - The Reserve Bank of India (RBI) said on Thursday it would raise the foreign investment limits for government bonds by 80 billion rupees ($1.22 billion) to 2.5 trillion rupees for the October-December quarter, after current quotas had been almost fully exhausted.

People walk past the Reserve Bank of India (RBI) head office in Mumbai, November 9, 2016. REUTERS/Danish Siddiqui/Files

The RBI said the limits for long-term investors in government bonds would be raised by 60 billion rupees, while the limits for general investors would be raised by 20 billion rupees.

The banking regulator also raised the limits for state development loans by 62 billion rupees, with 47 billion rupees of that raised for long-term investors and 15 billion rupees for general investors.

The changes in limits would be effective as of Oct. 3.

($1 = 65.4850 Indian rupees)

Reporting by Rafael Nam; Editing by Biju Dwarakanath

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