SEBI tweaks eligible criteria for Foreign Portfolio Investors
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- Last Updated on 5 August, 2021
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NOTIFICATION NO. SEBI.LAD-NRO/GN/2021/32, dated 04.08.2021
The Market Regulator, SEBI has notified the SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2021 wherein provisions related to eligibility criteria for foreign investors for registration as Foreign Portfolio Investors (FPIs) have been amended. As a result, resident Indians other than individuals shall also be eligible to apply for registration as FPIs subject to riders viz. (i) such resident Indian, other than individuals, is an eligible fund manager of the applicant, as provided u/s 9A(4) of the Income Tax Act, 1961; and (ii) the applicant is an eligible investment fund as provided u/s 9A(3) of the IT Act, 1961 which has been approved the IT Rules, 1962.
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