24.07.2013 - India: Sovereign wealth funds to get access to tax-free infra bonds
The government is set to allow a direct line of investment for sovereign wealth funds (SWFs) in the tax-free infrastructure bonds as part of measures to shore up forex reserves and stem rupee slide. The government may also ask state-owned infra finance firm such as IIFCL, PFC, IRFC and IREDA to raise funds overseas in larger quantum. "Some sovereign wealth funds have shown interest in picking up a substantial chunk in infrastructure bonds of state-owned entities....we are looking at how this can be worked out," a senior finance ministry official told ET...............................................Full Article: Source
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