ECB limit hiked to $10 bn – Markets fall
The government securities’ limit also has been hiked, to $20 bn from $15 bn
As part of its measures to boost economy, the government today increased the external commercial borrowings’ limit to $10 billion for repayment of outstanding rupee loans towards capital expenditure
The government securities’ (G-Secs) limit also has been hiked, to $20 billion from $15 billion. Also, the residual maturity in G-Secs has been cut to 3 years for $10 bn for FIIs and there would be no residual maturity clause for the balance $10 bn.
FII investment in Infrastructure Development Funds has been further rationalised in terms of lock-in period (one year) and residual maturity
Further, Qualified Foreign Investors can now invest in those mutual fund schemes that hold at least 25% of their assets in infrastructure sector under the $3 billion limit.
Source: Business Standard
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