IFC Masala Bonds
Masala Bonds are bonds that are denominated in rupees. It is a debt instrument issued in overseas markets by an Indian entity to raise funds in Indian rupees rather than dollars or local currency.
In November 2014, the International Finance Corporation (IFC), the World Bank's investment arm, issued a 10-year, $10 billion Indian rupee bond to encourage foreign investment and mobilise international capital markets to support the country's infrastructure development.
Features of Masala Bonds
Investors
- These bonds can only be offered to residents of countries that are members of the Financial Action Task Force (FATF).
- Additionally, the country's security market ....
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