I need to invest an amount X. Term of investment is 20 years. I will not need the money before 20 years. This is a classic case of investing in stocks/equity-mutual-funds. HOWEVER, I am investing on behalf of somebody and that somebody is absolutely clear that he does not want the money to be handled by “private” entities. It must be LIC/RBI or some such thing.
Given that restriction, I need suggestions. What is the best investment possible? Are there RBI bonds available for retail investors?