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Wooing non-residents: RBI paves way for India to join global bond Index

Wooing non-residents: RBI paves way for India to join global bond Index

Paving the way for Indian bonds to become part of a global bond index, the Reserve Bank of India (RBI) on Monday notified five government securities (gilts) that would be eligible for investment by non-residents without any restrictions under the Fully Accessible Route (FAR).

Ananth Narayan, professor-finance at SPJIMR, told FE that specifying five existing securities under FAR is a positive step, since FAR now starts with about $60 billion of eligible securities. “The quantum will steadily increase as fresh 5-year, 10-year and 30-year adds to the kitty

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