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RBI/2021-22/120 A.P. (DIR Series) Circular No. 16 November 08, 2021 To All Authorised Persons Madam / Sir Investment by Foreign Portfolio Investors (FPIs) in Debt Review Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 1 to the Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified videNotification No. FEMA.396/2019-RB dated October 17, 2019, as amended from time to time and the relevant Directions issued thereunder.
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FAQ :
The circular permits Foreign Portfolio Investors (FPIs) to invest in debt securities issued by Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs).
FPIs can acquire these debt securities under the Medium-Term Framework (MTF) or the Voluntary Retention Route (VRR).
The decision to enable FPI investment in debt financing of InvITs and REITs was announced in the Union Budget 2021-22.
Yes, such investments shall be reckoned within the existing limits and will be subject to the terms and conditions applicable under the MTF and VRR regulations for FPI debt investments.
Authorised Dealer Category-I (AD Category-I) banks are requested to bring the contents of this circular to the notice of their concerned customers and constituents.
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Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12188&Mode=0