|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
India will raise by $5 billion each the caps on foreign institutional investors holding government and corporate bonds, Finance Minister P. Chidambaram said on Tuesday and forecast growth of 6.5-7 percent in the next fiscal year, Citi said in a note.
Foreign investors will be allowed to hold up to $15 billion of government bonds and $25 billion in corporate bonds, the minister was reported to have said during a meeting with investors in Hong Kong.
A one-year lock in period on holding infrastructure bonds will be eliminated, he said.
The meeting was held in the lead up to India's 2013/14 budget on February 28 where new investment and tax guidelines are likely to be announced.