ADB to raise $1 bln debt in rupee bonds in India

Asian Development Bank has sought permission from the Indian government to raise the equivalent of $1 billion in rupee bonds.

Asian Development Bank has sought permission from the Indian government to raise the equivalent of $1 billion in rupee bonds, a senior official said on Tuesday.

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"We are hoping to get the permission early this year. We will try to raise the funds at best possible terms," said Narhari Rao, principal economist at the bank's India mission.