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Foreign portfolio investors will be able to buy a further Rs1.04trn (US$16bn) of onshore rupee notes in the current fiscal year after the central bank raised the investment limits for government and corporate bonds.
Standard & Poor's and Fitch Ratings have highlighted the need to improve risk management and governance practices at Indian private-sector banks.
Indian corporate bond sales have slowed after new rules on electronic bidding effective from April 1 made the process of issuing rupee bonds longer and more expensive.