SEBI mandates NRI corpus contribution below 25% in new registration rules for FPIs; details here

Under the caller rule, FPIs applying for registration request to guarantee that the publication of a azygous NRI oregon overseas national of India (OCI) oregon nonmigratory Indian successful its corpus is beneath 25 per cent, according to a notification. Further, astatine an aggregate level, the applicant FPI needs to guarantee that their publication successful its corpus is beneath 50 per cent.

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The caller regularisation requires that NRIs, overseas citizens of India and nonmigratory Indians should not beryllium successful power of the applicant FPI. "The publication of nonmigratory Indian individuals shall beryllium made done the Liberalised Remittance Scheme notified by the Reserve Bank of India (RBI) and shall beryllium successful planetary funds whose Indian vulnerability is little than 50 per cent," said SEBI. To springiness this effect, SEBI has amended FPI rules that became effectual from June 25.

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Published: 27 Jun 2024, 05:45 PM IST