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Indian banks unloading bonds but foreigners are buying

Local investors worry about debts but foreigners see India as emerging Asia's best-performing market

Mumbai

INDIA'S US$750 billion sovereign-debt market is caught in a tug of war between foreign investors and state-run banks, the biggest holders of the securities.

As lenders sold 952 billion rupees (S$20 billion) of sovereign bonds last quarter, overseas funds added more than 422

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