August 28, 2014 / 11:57 AM / 3 years ago

India cbank says foreign investors can buy govt bonds directly in secondary market

MUMBAI, Aug 28 (Reuters) - India’s cbank relaxed the manner in which foreign investors can buy government securities by giving them the flexibility to buy these papers in the secondary market without necessarily going through exchange-registered brokers.

In a circular on Thursday, the Reserve Bank of India said the foreign investors can buy government bonds through any “prevalent market practice”.

Effectively, this means foreign investors can buy government bonds in secondary markets directly from other market participants, such as funds, banks or primary dealers. (Reporting by Suvashree Dey Choudhury; Editing by Anand Basu)

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