India relaxes FII sub-limit in govt bonds by $5 bln - cbank

MUMBAI, July 23 Wed Jul 23, 2014 8:21am EDT

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MUMBAI, July 23 (Reuters) - India relaxed its limits for foreign investors in government debt by allowing $5 billion more in a sub-category while reducing the same amount from its long-term investor category, the Reserve Bank of India said on Wednesday.

Foreign institutional investors (FIIs) will need to buy government bonds with a minimum three-year maturity while there will not be any lock-in period, the RBI said in a release.

For the full circular, see: (tinyurl.com/ln8uot3) (Reporting by Suvashree Dey Choudhury and Neha Dasgupta; Editing by Subhranshu Sahu)

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