CURRENT AFFAIRS

Detailed explanation-1: -Kerala is the first Indian state to tap into the market for masala bonds.

Detailed explanation-2: -Also, Kerala became the first Indian state to issue Masala Bonds for Rs. 2,150 crores on the London Stock Exchange in 2019.

Detailed explanation-3: -Masala Bonds were introduced in India in 2014 by International Finance Corporation (IFC). The IFC issued the first masala bonds in India to fund infrastructure projects.

Detailed explanation-4: -Masala bonds are rupee-denominated securities that Indian companies and institutions issue overseas to borrow money from foreign investors. The first masala bond was issued by the World Bank-backed International Finance Corporation in November 2014.

Detailed explanation-5: -Masala Bonds are traded in India International Exchange (INX), London Stock Exchange (LSE), Luxembourg Stock Exchange. Historically, 43 Masala bonds have been issued on the London Stock Exchange.