Markets regulator Sebi has allowed up to 100 per cent aggregate contribution by non-resident Indians, Overseas Citizens of India, Resident Indians in the corpus of FPIs that are based out of International Financial Services Centre (IFSC).
The move is expected to enhance investment by Foreign Portfolio Investors (FPIs) in India.
In a circular issued on Thursday, Sebi said it has amended FPI rules to “provide flexibility of having up to 100 per cent aggregate contribution by non-resident Indians (NRIs), Overseas Citizens of India (OCIs) and Resident Indians (RI) Individuals in the corpus of FPIs based in IFSCs in India and regulated by International Financial Services Centres Authority (IFSCA)”.
Over the years, there has been a consistent demand to channel more NRI and OCI investments into the Indian securities markets by enabling greater participation of NRIs and OCIs in FPI corpuses.
In the July 2019 budget speech, Finance Minister Nirmala Sitharaman had also recognized that despit
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