Foreign investment limits in government and corporate debt simplified, merging sub-limits and clarifying eligible investor categories and instrument caps. The circular merges existing sub-limits into two unified ceilings: a Government Debt limit of USD 25 billion for SEBI-registered FIIs, QFIs and long-term investors (with a USD 5.5 billion cap on treasury bills), and a Corporate Debt Limit of USD 51 billion for the same investor classes (with a USD 3.5 billion cap on commercial paper). Non-Resident Indians remain regulated under existing guidelines. These measures take effect from April 1, 2013, with SEBI to issue operational guidelines and RBI amending FEMA regulations accordingly.
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Foreign investment limits in government and corporate debt simplified, merging sub-limits and clarifying eligible investor categories and instrument caps.
The circular merges existing sub-limits into two unified ceilings: a Government Debt limit of USD 25 billion for SEBI-registered FIIs, QFIs and long-term investors (with a USD 5.5 billion cap on treasury bills), and a Corporate Debt Limit of USD 51 billion for the same investor classes (with a USD 3.5 billion cap on commercial paper). Non-Resident Indians remain regulated under existing guidelines. These measures take effect from April 1, 2013, with SEBI to issue operational guidelines and RBI amending FEMA regulations accordingly.
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