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The Reserve Bank of India has allowed foreign portfolio investors to transact in non-convertible debentures/bonds issued by Indian companies either directly or in any manner as per the prevalent/approved market practice.
The central bank, in a notification, said this move is aimed providing flexibility in regard to the manner in which such instruments issued by Indian companies can be acquired by FPIs
The RBI has asked banks authorised to deal in foreign exchange to bring the contents of this development to the notice of their constituents and customers.
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