FIs, NRIs can buy NCDs and debentures: RBI

India Infoline News Service | Mumbai |

This investment, however, will have to be within the overall limit of $51 billion earmarked for corporate debt, the RBI said.

The Reserve Bank of India on Friday allowed overseas investors and non-residents Indians to buy non-convertible and redeemable preference shares or debentures of publicly-listed Indian companies.
This investment, however, will have to be within the overall limit of $51 billion earmarked for corporate debt, the RBI said.
The present limits for investments by FIIs/FPIs, QFIs and long term investors registered with SEBI in corporate debt stands at $51 billion, the RBI said in a notification on Friday.
The RBI has now been decided to allow registered Foreign Institutional Investors (FIIs), Qualified Foreign Investors (QFIs) deemed as registered Foreign Portfolio investors, registered Foreign Portfolio Investors (FPIs), long term investors registered with SEBI Sovereign Wealth Funds (SWFs), Multilateral Agencies, Pension/ Insurance / Endowment Funds, foreign Central Banks to invest on repatriation basis, in non-convertible / redeemable preference shares or debentures issued by an Indian company, it added.
Further, NRIs may also invest, both on repatriation and non-repatriation basis, in non-convertible / redeemable preference shares or debentures, RBI further said.
 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.