Arab Today, arab today india eases borrowing norms raises foreign investment
Last Updated : GMT 15:53:52
Arab Today, arab today
Arab Today, arab today

India eases borrowing norms, raises foreign investment

Arab Today, arab today

Arab Today, arab today India eases borrowing norms, raises foreign investment

New Delhi - QNA

India\'s central bank has announced measures to curb the rapid depreciation of rupee and improve the market sentiment to boost its economy growth. The existing limit for investment by Securities and Exchange Board of India (SEBI) registered Foreign Institutional Investors ( FIIs) in government securities (G-Secs) has been enhanced by a further amount of $5 Billion. This would take the overall limit for FII investment in G-Secs from $15 Billion to $20 Billion, The Economic Times reported today. The apex Reserve Bank of India (RBI) has allowed Indian companies in manufacturing and infrastructure sector and having foreign exchange earnings to avail of External Commercial Borrowing (ECB) for repayment of outstanding rupee loans towards capital expenditure and/or fresh Rupee capital expenditure under the approval route. The overall ceiling for such ECBs would be $10 Billion. In order to broad base the non-resident investor base for G-Secs, the RBI has decided to allow long term investors like Sovereign Wealth Funds (SWFs), multilateral agencies, endowment funds, insurance funds, pension funds and foreign central banks to be registered with SEBI, to also invest in G-Secs for the entire limit of $20 Billion. The sub-limit of $10 Billion (existing $5 Billion with residual maturity of five years and additional limit of $5 Billion) would have the residual maturity of three years. The terms and conditions for the scheme for FII investment in infrastructure debt and the scheme for non-resident investment in Infrastructure Development Funds (IDFs) have been further rationalised in terms of lock-in period and residual maturity. (QNA)

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