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SEBI Relaxes Foreign Fund Rules for Non-Residents

The Securities and Exchange Board of India said it accepted the recommendations by a panel it had set up to review the rules for foreign portfolio investments.

Reuters

Updated:September 21, 2018, 11:37 PM IST
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SEBI Relaxes Foreign Fund Rules for Non-Residents
In this file photo, the logo of the Securities and Exchange Board of India (SEBI) is pictured on the premises of its headquarters in Mumbai. (Reuters)
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Mumbai: India's market regulator on Friday relaxed norms on foreign investments by Indians based abroad after concerns over stricter regulations rattled markets earlier this month.

The Securities and Exchange Board of India (SEBI) said it accepted the recommendations by a panel it had set up to review the rules for foreign portfolio investments.

Earlier this month, Indian markets fell sharply after a group of fund managers raised fresh concerns over an April circular from the market regulator related to rules on foreign funds ownership by entities of Indian origin, which they said could lead to massive dollar outflows from the economy.

The panel, headed by a former central bank deputy governor, had suggested, among other changes, that non-resident Indians be allowed to invest as foreign portfolio investors if a single holding is under 25 percent and group holding is under 50 percent in a fund.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Padmaja Venkataraman
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