India cbank cuts minimum maturity period for offshore rupee debt

April 13, 2016 12:41 PM

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MUMBAI, April 13 India's central bank said on Wednesday it would lower the minimum maturity period for rupee debt issued abroad by Indian companies to three years from five years, in line with foreign investment in corporate bonds.

The Reserve Bank of India also said Indian companies would be allowed to raise up to 2.4 trillion rupees ($36.03 billion) worth offshore rupee debt as part of the overall corporate bond limit, while each company will be able to issue up to 50 billion rupees in debt through the automatic route.

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