FOUR MAJOR PSBS RAISE LIMITS FOR INVESTING IN STATE BONDS

At least four major state-owned Indian banks have increased their internal limits for investing in state bonds following discussions with the Reserve Bank of India last month, according to five treasury officials aware of the decisions.

- Reuters

Bank of Baroda, Punjab National Bank, Canara Bank and Union Bank of India - among India’s top five government-owned lenders by assets - have raised their investment caps by 5 to 20 percentage points, the officials mentioned above said.