Quick Summary
The Reserve Bank of India (RBI) has announced major amendments to the regulatory framework governing investments by Foreign Portfolio Investors (FPIs) in Government Securities. The reforms, issued under the Foreign Exchange Management Act (FEMA), are designed to improve ease of investment, simplify
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FAQ :
The RBI has removed the short-term investment limit, security-wise limit, and concentration limit for FPIs investing in government securities under the General Route.
These sub-categories have been merged into a single limit for investment in Central Government Securities and State Government Securities (SGSs) respectively.
Yes, new issuances of government securities in 15, 30, and 40-year tenors, and Sovereign Green Bonds in 5, 7, 10, 15, 30, and 40-year tenors, have been designated as 'specified securities' under the FAR.
The directions contained in this circular come into effect immediately.
These directions have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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