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of <h1>SEBI Updates FPI Rules: Removes G-Sec Maturity Limit, Sets New Corporate Debt Restrictions, Assigns Monitoring to CCIL.</h1> The circular issued by SEBI on June 15, 2018, outlines changes in the regulations governing Foreign Portfolio Investors (FPIs) in debt securities. The minimum residual maturity restriction of three years for investments in Government Securities (G-Secs) and State Development Loans (SDLs) by FPIs has been removed, and the auction process by BSE/NSE discontinued. Monitoring of G-Sec/SDLs utilization limits is now the responsibility of the Clearing Corporation of India Ltd. Revised requirements for corporate debt investments include a minimum residual maturity of above one year and concentration limits for FPIs. FPIs are restricted to investing no more than 50% in any corporate bond issue and must limit exposure to a single corporate to 20% of their portfolio. Compliance with these regulations is mandatory, with custodians responsible for monitoring adherence.
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