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        SEBI

        Regulation 26 - Appointment of designated bank

        Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
        Chapter V
        GENERAL OBLIGATIONS AND RESPONSIBILITIES OF FOREIGN PORTFOLIO INVESTORS

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        Appointment of designated bank: pre investment requirement to open foreign currency and special non resident rupee accounts with an RBI authorised branch. A foreign portfolio investor must, prior to making any investments in India, appoint a branch of a bank authorised by the Reserve Bank of India to open a foreign currency denominated account and a special non resident rupee account, making this appointment a pre investment compliance requirement.
                          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 designated bank: pre investment requirement to open foreign currency and special non resident rupee accounts with an RBI authorised branch.

                                A foreign portfolio investor must, prior to making any investments in India, appoint a branch of a bank authorised by the Reserve Bank of India to open a foreign currency denominated account and a special non resident rupee account, making this appointment a pre investment compliance requirement.


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