SEBI grants permission FII registration to BBVA for debt market

Securities and Exchange Board of India has granted registration to BBVA, European financial services group, as Foreign Institutional Investor to operate in the Indian bond market. BBVA has a Representative Office in India since 2007. In December 2010, BBVA signed pact with Bank of Baroda to acquire a 51 per cent stake in BOB Cards. BOB Cards is subsidiary of Bank of Baroda.