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Tuesday, July 22, 2014

FII Investment Sub-limit in Govt Bonds may be Raised

Government is considering hiking the FII investment sub limit in its bonds to $25 billion without disturbing overall $30 billion FII debt cap, a top finance ministry official said on Monday. “There is general demand and there is a space to increase FII limit in government debt. No intent to increase overall $30 billion FII debt cap,“ finance secretary Arvind Mayaram said.

Currently, India allows FIIs of up to $30 billion in government bonds, including $20 billion for all and $10 billion for specific investors like foreign central banks, sovereign wealth funds, pension funds and insurance funds. The limit under $20 billion has been almost fully exhausted. “There is demand and space for rejigging existing FII debt window; we may use $5 billion unutilised sovereign wealth funds as part of FII debt cap,“ Mayaram said.

Source: ET
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