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May 29, 2012, 04.03 PM IST
The Reserve Bank of India has proposed to the finance ministry reducing the minimum lock-in debt investment periods for foreign institutional investors as a way to boost inflows and help protect a weakening rupee, a senior official said on Tuesday.
The Reserve Bank of India also proposed recasting the investment limits within the country's existing debt categories to provide more flexibility to foreign investors, an official with direct knowledge of the proposal told Reuters. He declined to be identified because the proposals have not been publicised. The RBI is not in favour of increasing the overall foreign debt limits but has issued the proposal as another way to raise foreign inflows. India allows foreign investors to buy up to USD 20 billion in general corporate debt, USD 25 billion in infrastructure debt, USD 15 billion in broader government debt.
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