Money & Banking

Spanish bank BBVA gets SEBI nod to invest in Indian bond market

Priya Nair Mumbai | Updated on June 09, 2011

Spanish bank BBVA has received Foreign Institutional Investor licence from SEBI to invest in the Indian bond market, said a press release issued by the bank today.

The current regulation allows FII licence holders to invest in the Indian debt market up to $10 billion in government securities, $15 billion in corporate bonds and $25 billion in long-term corporate bonds for infrastructure development.

This marks BBVA’s second undertaking in the Indian financial market and is consistent with the bank’s strategy of entering emerging markets.

BBVA has a representative office in India since 2007. In December 2010, it signed an agreement with Bank of Baroda to acquire a 51 per cent stake in the public sector bank’s credit card business, BOB Cards.

Published on June 09, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor