India relaxes FII sub-limit in govt bonds by $5b - RBI

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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.

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