ANNOUNCEMENT 25 Apr 2019
Foreign Portfolio Investors will be allowed to invest in Indian municipal bonds.
NUMBER OF INTERVENTIONS
RBI/2018-19/176 A.P. (DIR Series) Circular No. 33
On 25 April 2019, the Reserve Bank of India through Circular RBI/2018-19/176 A.P. (DIR Series) Circular No. 33 amended the policy for investments by Foreign Portfolio Investors (FPIs) in Debt. FPI's are henceforth allowed to invest in Indian municipal bonds.
The limit of investment in such bonds will be counted under the limit set for FPI investment in State Development Loans.