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Mar 30, 2020

Investment by FPIs in Debt

On January 23, 2020, RBI approved the following changes to the Circular on Investment by FPIs in Debt dated June 15, 2019: (a) increase of the cap on short term investments by FPIs in Central Government securities (G-secs), including in treasury bills, and state development loans, from 20% of the total investment in such securities to 30%; (b) increase of the cap on short term investments by FPIs in corporate bonds from 20% of the total investment in corporate bonds to 30%; and (c) FPI investments in security receipts have been exempted from the short-term investment limit and the issue wise limit, with such exemption also extending to FPI investments in debt instruments issued by asset reconstruction companies and debt instruments issued by an entity under the corporate insolvency resolution process as per a resolution plan approved by the NCLT under the IBC.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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