RBI Chief Says Removal of FII Debt Limits Possible Over 2 Years: Report
Mumbai: The Reserve Bank of India (RBI) will remove foreign investment limits on the country's debt markets once the economy reaches its potential output over two consecutive years and foreigners move to long-end maturities, Euromoney reported Governor Raghuram Rajan as saying.
These two factors would happen "once the world becomes excited in a more substantial way about the India story", Euromoney quoted the RBI chief as saying during an interview with the magazine.
Foreign institutional investors (FIIs) have almost exhausted their $25 billion limit in government bonds. Analysts expect India to raise the limit, although a removal has not been expected in the near term.
Copyright @ Thomson Reuters 2013
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