Global funds would be able to buy new five-, 10- and 30-year bonds from April 1, the Reserve Bank of India said in a statement. It also removed caps on some issued debt including the benchmark. Tenures may be changed or added, it said.
MUMBAI: India opened up a wide swath of its sovereign bond market to overseas investors, taking its biggest step yet to secure access to global indexes as the government embarks on a record borrowing plan. Bonds rallied.
Global funds would be able to buy new five-, 10- and 30-year bonds from April 1, the Reserve Bank of India said in a statement. It also removed caps on some issued debt including the benchmark. Tenures may be changed or added, it said.
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