India plans first tokenised bond issue in September: Report
India is set to roll out tokenised corporate bonds next month, utilizing blockchain technology to facilitate immediate transaction settlements. The state-owned REC will be at the forefront of issuing these innovative bonds, which will require investors to possess both digital currency and securities wallets. This initial phase is designed for a limited number of selected investors, showcasing the potential of modern financial practices.
Indian government bonds remained steady as traders awaited oil price movements. US sanctions on Iran could impact global crude prices significantly. Higher oil prices may fuel inflation and widen India's current account deficit. Reserve Bank of India policymakers are open to raising interest rates. Swap rates saw little activity after a substantial spike last week.
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