India eases rules for FIIs in govt, corporate bonds
New Delhi: India will ease restrictions for foreign institutional investors in central and corporate bonds next month to attract inflows and help fund a widening current account deficit, Finance Minister P Chidambaram said on Saturday. Under the new rules, foreign investors can invest up to $25 billion in long-term government bonds, up from $15 billion. The cap on corporate bonds remains at the current level of $51 billion, but separate limits on different types of corporate debt have been removed.
"Effect from April 1, there will be two baskets - one of $25 billion for government securities and one $51 billion for all corporate bonds," Chidambaram told a conference. Currently, foreign institutional investors can invest up to $25 billion in corporate infrastructure bonds, $20 billion in other listed corporate bonds, and $5 billon could be invested by other foreign investors including sovereign wealth funds, pension and insurance funds.
India restricts foreign access to its debt markets because of its reluctance to owe money to overseas investors, and has a complicated system of categories for debt as well as restrictions on which types of investors can bid for the debt.
But a record high current account deficit - which hit 5.4 percent of the GDP in the quarter ending September - has prompted the government to take steps to increase capital inflows into country's debt and stock markets.
BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.
Date 23-02-14, Duration 1:43, Views 59980
Date 23-02-14 1:43
Tooltip Information:AAP's alliance with Cong. a suicide: BJPVideo by:Description: BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.Rating: 3.37Views: 59980
Date 15-09-14 1:06
Tooltip Information:Swedish PM Fredrik Reinfeldt to resign after losing to Left oppositionVideo by:Description: Sweden, Sep 15 (ANI): Swedish Prime Minister Fredrik Reinfeldt concedes his defeat after opposition center-left alliance, led by the Social Democratic Party, beat the incumbent center-right government in the 2014 parliamentary election. Reinfeldt is to resign on Monday after the defeat. He also told supporters in Stockholm late yesterday that he will also step down as leader of the conservative Moderate Party next year. According to Swedish Parliament website, the final election results are expected to come out on September 20 and the newly elected parliament will convene on September 29.Rating: 4.5Views: 297
Date 13-09-14 2:39
Tooltip Information:Bypolls: Voting begins for 3 Lok Sabha, 33 Assembly seatsVideo by:Description: Lucknow/ Moradabad/ Kolkatta/ Vadodra, Sept 13 (ANI): Polling for three Lok Sabha and 33 Assembly seats is currently underway across 10 states with the results crucial for both the ruling BJP-led NDA government as well as the opposition parties who are yet to recover from the massive defeat in the 2014 Lok Sabha elections. Voters began to queue up on Saturday at polling stations for the by-poll in Uttar Pradesh's one Lok Sabha and 11 assembly constituencies. Samajwadi Party and the Bharatiya Janata Party (BJP) are the main contenders in most of the assembly seats and the lone Lok Sabha seat.Voting is also underway for the Chowringhee and Basirhat (South) assembly constituencies in West Bengal.Voting for the Antagarh assembly constituency in Chhattisgarh also began today.Polling for Gujarat's one Lok Sabha and nine assembly by-polls is underway too.The Vadodara Lok Sabha seat was vacated by Prime Minister Narendra Modi after he was elected to the parliament from two places, including Varanasi in Uttar Pradesh.Voters queue up in Telangana too for polling.Rating: 4Views: 243
Date 12-09-14 5:13
Tooltip Information:Maharashtra, Haryana to go to polls on 15 Oct: ECVideo by:Description: New Delhi, Sep 12 (ANI): The Election Commission of India on Friday announced the election dates for the Maharashtra and Haryana assembly elections 2014. Talking to mediapersons in New Delhi, Chief Election Commissioner VS Sampath said, that polling would be held in Maharashtra and Haryana on 15 October. The results will be announced on 19 October. The Election Commission announced that the notification for the election in the two states will be issued on 20 September. The last date for candidates to file their nominations will be 27 September. The process of scrutiny will be conducted on 29 September and the last date for withdrawal of nominations will be 1 October.Rating: 4Views: 107
Date 9 hrs ago 3:32
Tooltip Information:Want seat sharing issue with Congress in Maharashtra to be solved soon: NCPVideo by:Description: Mumbai, Sep 20 (ANI): NCP leader Praful Patel on Saturday said that the party wants that its ally Congress should solve the issue of seat sharing in upcoming Maharashtra Assembly by polls soon. Patel said that NCP has stood with Congress party since a long time and worked with it shoulder to shoulder. He also said that NCP already has 124 seats in Maharashtra which the Congress is offering according to sources and added that NCP wants an equal share of seats. Patel also said that he hoped Congress would solve the issue soon with discussion.Rating: 4Views: 75
Date 11 hrs ago 2:01
Tooltip Information:Navy officials, children mark International Coastal Cleanup DayVideo by:Description: Visakhapatnam, Sep 20 (ANI): Navy officials, along with their families and schoolchildren, lifted garbage from beaches in Visakhapatnam to mark the 29th International Coastal Cleanup Day on Saturday. Chief of staff of Eastern Naval Command, Vice Admiral Bimal Verma, flagged off the drive called 'Fighting for trash-free seas' at the Kursura Museum. More than 1,500 citizens of Visakhapatnam and about 3,000 Naval personnel and their families participated in the event. Indian Coast Guard and Visakhapatnam unit of Hindustan Coca-Cola Beverages joined hands with Ocean Conservancy to undertake a massive cleanup at Rishikonda beach.Rating: 4Views: 14