Foreign investment in infrastructure debt: FIIs allowed IFC bonds, reduced lock in for a tranche, and maturity rule clarified. FIIs may invest in non convertible debentures/bonds issued by NBFCs classified as Infrastructure Finance Companies within the overall FII infrastructure debt limit; the lock in period for FII investment is reduced to one year for investments up to a specified sub limit measured from first purchase; residual maturity of five years is defined with reference to the instrument's original maturity at first purchase. Parallel changes apply to QFI investment in mutual fund debt schemes; FEMA transfer/issue regulations will be amended and AD Category I banks must notify constituents.
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Foreign investment in infrastructure debt: FIIs allowed IFC bonds, reduced lock in for a tranche, and maturity rule clarified.
FIIs may invest in non convertible debentures/bonds issued by NBFCs classified as Infrastructure Finance Companies within the overall FII infrastructure debt limit; the lock in period for FII investment is reduced to one year for investments up to a specified sub limit measured from first purchase; residual maturity of five years is defined with reference to the instrument's original maturity at first purchase. Parallel changes apply to QFI investment in mutual fund debt schemes; FEMA transfer/issue regulations will be amended and AD Category I banks must notify constituents.
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