London Lands 30 Billion Rupee “Masala Bond”

hdfc uk india

India’s first offshore rupee-denominated bond was listed on the London Stock Exchange today. The investment – known as a “masala” bond – was issued by India’s largest bank HDFC, whose chairman Deepak Parekh praised London’s “wide range of financial instruments” and “unshakable trust from international investors.”

“While we did explore other markets for listing, the responsiveness and efficiency with which the officials at the UKLA and London Stock Exchange responded to our urgent requirements was remarkable.”

HDFC’s decision to place the 30 billion rupee / £341 million bond on the British market was preceded by the Chinese government earlier this year, who issued the first ever Yuan bond outside of China (worth £300 million) in May. Last week, the German stock exchange (Deutsche Börse) voted overwhelmingly in favour of merging with the London Stock Exchange, hoping to make it the world’s largest market. Both India and China are listed within the top 20 GDP growth rates in the world, and form part of Guido’s post-Brexit trade map. It cements London’s place as the financial capital of the world – Paris and Frankfurt didn’t have a hope. Even the arch-Remainiacs over at Bloomberg are grudgingly admitting it’s good post-Brexit news…

Modi’s Mahal WiFi

taj mahal

Visitors to India’s most famous attraction, the Taj Mahal, can now upload their snaps with the gleaming Mughal masterpiece over free WiFi thanks to the “inspiring leadership of Prime Minister Shir Narendra Modi“. “History meets Technology”.

Hardcore selfie takers will have 30 minutes of free internet courtesy of the state-run operator BSNL before having to cough up for a subscription.

Judging by the poster, the Taj will be getting WiFi circa 1994…

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