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RBI unlikely to support overseas sovereign bonds in Aug 16 meeting, says report

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The Reserve Bank of India (RBI) is unlikely to give nod to overseas dollar sovereign bond in its meeting with the government on Friday, reported Business Standard. 

RBI unlikely to support overseas sovereign bonds in Aug 16 meeting, says report
The Reserve Bank of India (RBI) is unlikely to give nod to overseas dollar sovereign bond in its meeting with the government on Friday, reported Business Standard.
The RBI fears such a move will end up disrupting local bonds, the report said citing sources.
Currently, local bonds are under the strict control of the central bank, however, this will change once foreign bonds enter the market as it could be virtually impossible to set foreign and domestic bonds apart for the long term, said the report.
While the RBI governor is yet to openly comment on the issue, the report added that the bank has already made its disapproval clear and will formally do so in the Friday meeting.
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