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Govt To Sell 50-Year Bonds For First Time menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
India will sell 50-year bonds for the first time, introducing ultra-long maturity debt to cater to the growing demand from insurance and pension funds.
The nations burgeoning life insurance and pension fund industries, driven by an expanding middle class, are changing the landscape for Indias $1 trillion sovereign debt market. The sale reflects their growing heft, and helps Prime Minister Narendra Modis government reduce its reliance on purchases by banks to fund record borrowings.
The Central government for the first time will sell 50-year bonds to meet the demand for longer dated securities from the country's life insurance and pension fund segments.This comes as a major development in the country's financial sector as .