The Reserve Bank of India (RBI) today allowed foreign institutional investors (FIIs) to invest up to USD 25 billion, up from existing limit of USD 5 billion, in bonds and debentures of Indian infrastructure companies. FIIs registered with SEBI would also be allowed to invest in non-convertible debentures and bonds issued by non-banking financial companies categorised as 'Infrastructure Finance Companies' (IFCs) by RBI within the overall limit of USD 25 billion, the central bank said in a notification. This was subject to conditions that such instruments shall have a residual maturity of five years or above and the investments would have a lock-in-period of three years, it said.
Source : Economic times
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