IRDA reckons investment in India Infra debt NCD issue

India Infoline News Service | Mumbai |

IRDA decision came after an application by India Infradebt seeking approval of the former to recognise the NCD issue as investment in the infra sector.

The Insurance Regulatory and Development Authority (IRDA) on Thursday said that insurance companies can invest in the Rs 5-billion non-convertible debenture (NCD) issue of India Infradebt Ltd.

The IRDA said this issue could be reckoned as an investment in the infrastructure sector.

The decision of the IRDA came after an application by India Infradebt seeking approval of the former to recognise the NCD issue as investment in the infra sector.


IRDA, in the amendment to the IRDA (Investment) Regulation, 2000, notified in February this year, stipulated that investments in infrastructure debt funds backed by the Central Government shall be reckoned as infrastructure investment on a case-to-case basis.

 

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