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    HomeNewsBusinessEconomyIndia may issue bonds for non-resident Indians

    India may issue bonds for non-resident Indians

    India is considering to issue bonds for non-resident Indians through state-run banks at around 7-9% interest rate, a source close to the development told Reuters.

    June 25, 2012 / 18:04 IST

    India is considering to issue bonds for non-resident Indians through state-run banks at around 7-9% interest rate, a source close to the development told Reuters, to help bolster capital inflows and stem a slide in the rupee.


    On Friday, the rupee hit a record low against the dollar for a second consecutive session and posted its worst weekly fall in nine-months, hurt by dollar demand from oil firms and gold importers as well the broad risk-off sentiment.


    Finance Minister Pranab Mukherjee said on Saturday the government would unveil measures on Monday to arrest the slide in the currency.

    first published: Jun 25, 2012 11:36 am

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