Masala Bonds to be Treated as ECB: RBI

The Reserve Bank of India (RBI) announced that Masala bonds will be treated as External Commercial Borrowings (ECB) from 3rd October 2017 thereby freeing up more investments by FPIs.

Masala bonds are rupee-denominated overseas bonds. Currently, the limit for investment by foreign portfolio investors (FPIs) in corporate bonds is Rs 2,44,323 crore. This includes masala bonds of Rs.44,001 crore.

Important Takeaways from Above News-

  • The 24th Governor of RBI is Mr.Urjit Patel.
Source- The Hindu

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