India to strip RBI of powers to regulate govt bonds

By Rajesh Kumar Singh and Manoj Kumar NEW DELHI (Reuters) - India plans to strip the Reserve Bank of India of its powers to regulate government bonds, but leave the central bank in charge of other money market instruments, three government sources with direct knowledge of the matter said on Wednesday. "You need a bond market that is well functioning where retail and corporate investors can participate." Changes proposed by Finance Minister Arun Jaitley in his budget last month triggere