The Ministry of Road Transport and Highways and the National Highways Authority of India (NHAI) are mulling over an option of raising funds through masala bonds. Masala bonds refer to a financial instrument through which Indian companies can raise money from global markets in Indian rupees. Reportedly, a London-based firm has approached the ministry in this regard. NHAI needs to raise about Rs 500 billion from the market during 2016-17 to fund projects.
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