India: RBI faces dilemma on masala bonds over Goldman-backed ReNew Power issue

India: RBI faces dilemma on masala bonds over Goldman-backed ReNew Power issue

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. REUTERS/Danish Siddiqui/File Photo

Goldman Sachs Group Inc. is forcing the Reserve Bank of India (RBI) to make a choice. The central bank will have to decide whether to let the masala bond market die slowly or gain new life in a different form than was envisaged when it allowed Indian companies to raise debt in rupees overseas.

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