SBI head says NRI bonds will not work in current situation

Bonds for non-resident Indians (NRI) will not work in current market conditions, State Bank of India chief Pratip Chaudhuri said on Tuesday.

Most countries are now issuing sovereign bonds, the head of the country’s largest lender said while speaking to reporters at a post-policy conference.

Earlier in the day, the central bank left interest rates unchanged as it supports a battered rupee but said it would roll back recent liquidity tightening measures when stability returns to the currency market, enabling it to resume supporting growth.

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