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IN - New investment rules in India for Foreign Funds

01/01/2017

On 17 November 2016, The Reserve Bank of India (RBI) has amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, to permit Foreign Portfolio Investor (FPI) investment in unlisted debt securities and securities debt instruments under certain conditions.

On 17 November 2016, The Reserve Bank of India (RBI) has amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, to permit Foreign Portfolio Investor (FPI) investment in unlisted debt securities and securities debt instruments under certain conditions. In addition, investment by FPIs in the unlisted corporate debt securities and securitised debt instruments shall not exceed INR 350 billion within the current investment limits prescribed for corporate bonds from time to time (currently INR 2,443.23 billion). Further, investment by FPIs in securitised debt instruments shall not be subject to the minimum 3-year residual maturity requirement.  All other conditions for FPIs investing in the corporate debt market remain unchanged.

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