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of <h1>SEBI Sets Eligibility for Designated Depository Participants Under Foreign Portfolio Investors Regulations, 2014</h1> The Securities and Exchange Board of India (SEBI) outlines the eligibility criteria for approval as a designated depository participant under the Foreign Portfolio Investors Regulations, 2014. Applicants must be registered participants and custodians of securities with SEBI, authorized as Category-1 banks by the Reserve Bank of India, and possess a multinational presence. They must comply with Financial Action Task Force standards and the Prevention of Money Laundering Act, 2002. Additionally, applicants must meet the fit and proper criteria specified by SEBI. SEBI may also approve global banks with sufficient custodial experience, provided they meet specified registration and partnership requirements.
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