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Byline: Rupa Damodaran
BANK Negara Malaysia (BNM) has registered as a foreign institutional investor (FII) in India, enabling it to invest in the country's debts and bonds.
The move makes it the first central bank to choose to buy rupee-denominated debt issued by the Indian government and top Indian companies.
According to Mumbai-based mydigitalfc.com report, this could be a first for any central bank to invest in India utilising the FII route as others have invested in the republic through the Reserve Bank of India.
It described the move as significant because India does not allow full capital account convertibility.
"A move by a …