RBI not in favour of offshore settlement for sovereign bonds: Report (opens original article in a new tab)

India's central bank, RBI, is against allowing direct offshore settlement of government securities through platforms like Euroclear, preferring instead that foreign investors trade on the domestic NDS-OM platform to consolidate liquidity and improve price discovery.

• RBI opposes offshore settlement of government securities via platforms like Euroclear
• RBI prefers overseas investors to trade on domestic NDS-OM platform for liquidity consolidation
• Recent tax incentives for foreign investors did not change RBI's preference for local settlement