Appointment of domestic custodian requires FIIs to secure a custodian to monitor investments, report daily, preserve records and provide information. A Foreign Institutional Investor or its global custodian must contract a domestic custodian to hold securities; the custodian must monitor investments in India, report transactions daily to the Board, preserve records of the investor's activities for five years, and furnish any information called for by the Board. More than one domestic custodian may be appointed with the Board's prior approval, but only one custodian may serve a single sub-account.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Appointment of domestic custodian requires FIIs to secure a custodian to monitor investments, report daily, preserve records and provide information.
A Foreign Institutional Investor or its global custodian must contract a domestic custodian to hold securities; the custodian must monitor investments in India, report transactions daily to the Board, preserve records of the investor's activities for five years, and furnish any information called for by the Board. More than one domestic custodian may be appointed with the Board's prior approval, but only one custodian may serve a single sub-account.
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