[India plans to reform the US$180 billion pension system to boost the market] On October 28, people familiar with the matter revealed that India is considering a comprehensive reform of the investment rules of its US$180 billion national pension system. The move is intended to give fund managers greater investment autonomy, allowing them to invest in debt with lower credit ratings, alternative assets and a wider range of stocks. The proposed reforms are being drafted by a panel of the Pension Fund Regulatory and Development Authority of India (PFRDA), which is expected to submit its recommendations for revised investment guidelines soon. The people spoke on condition of anonymity because the deliberations are confidential. They said the recommendations still need to be approved by the regulator's board of directors before they can take effect.