Union finance minister Nirmala Sitharaman apprised G-20 nations on the steps her government is taking to boost the Indian bond market. The minister was a speaker at the Finance Ministers & Central Bank Governors meeting held in Riyadh today. She spoke about the initiatives that the Indian government had taken to uplift the bond market such as removal of capital controls for identified categories of G-Secs and increased FPI limit on corporate bond market.
FPI limits with respect to investment in corporate bonds are proposed to be increased to 15 per cent. Analysts believe that the announcements made by Sitharaman will help market sentiments and bring investments into the debt market. Sitharaman congratulated Saudi Arabia for giving priority to developing capital markets. She later held meetings with Saudi finance minister Mohammed Al-Jadaan and Italian finance minister Roberto Gualtieri on the sidelines of the conference.
