28
Sep
The central government will sell 50-year bonds for the first time to meet demand for long-dated securities from the country's life insurance and pension fund sectors. This comes as a major development in the country's financial sector as a rapidly growing middle class seeks long-term financial security and retirement planning through such investments. The new 50-year bonds announced in the borrowing plan released by the Reserve Bank of India on Tuesday will add to the 30-year and 40-year tenor bonds currently offered. “Investor demand has strengthened, supported by the expansion of the formal sector, with households allocating a higher share…