FII investment permissions: FIIs may trade securities and derivatives subject to ownership limits, allocation rules and reporting. SEBI registered FIIs and approved sub accounts may invest in equities, convertible debentures, mutual fund units, dated Government securities, Treasury Bills and exchange traded derivatives under PIS, using a Foreign Currency Account and/or a Special Non Resident Rupee Account; transactions are permitted on exchange at market prices or off market at SEBI/RBI approved prices, subject to tax compliance, ownership ceilings (10% per FII/sub account, 5% per foreign corporate/individual within aggregate caps), a 70:30 equity debt allocation guideline, prohibition on short selling, adherence to SEBI position limits for derivatives, margin requirements, and daily reporting to RBI.