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Apr 18, 2015
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RBI said to oppose overseas settlement of debt
Reserve Bank of India (RBI) is opposed to a proposal to allow overseas settlement of the nation’s sovereign debt because such a move could lead to higher currency volatility, people familiar with the matter said.The RBI doesn’t favour the settlement of rupee bonds on Euroclear Bank SA or Clearstream Banking SA platforms, but wants foreigners to engage local custodians or depositories instead, the people said, asking not to be named as they aren’t authorized to speak to the media.
Source -
http://www.livemint.com
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