India’s inclusion in the JP Morgan GBI-EM Global Diversified Index will likely do to sovereign debt what economic liberalisation did to equity ownership in local businesses: Diversify debt holding beyond the traditional bailiwicks of local lenders, insurance companies and the central bank.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.