FPI investment limits in government securities increased with phased implementation, auction/on tap allocation, and rollover of unused long term limits. The circular increases FPI investment caps in Central Government securities, Long Term FPIs and State Development Loans with phased effective dates, sets revised aggregated caps, and prescribes allocation by exchange auctions (with a 15 day utilisation period) and on tap availability for incremental long term and SDL limits. It provides for reallocation of any unutilised Long Term FPI limit at the end of a half year to all FPIs for the subsequent half year and reaffirms existing conditions including security wise limits, coupon treatment outside caps, and a minimum residual maturity of three years.
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Provisions expressly mentioned in the judgment/order text.
FPI investment limits in government securities increased with phased implementation, auction/on tap allocation, and rollover of unused long term limits.
The circular increases FPI investment caps in Central Government securities, Long Term FPIs and State Development Loans with phased effective dates, sets revised aggregated caps, and prescribes allocation by exchange auctions (with a 15 day utilisation period) and on tap availability for incremental long term and SDL limits. It provides for reallocation of any unutilised Long Term FPI limit at the end of a half year to all FPIs for the subsequent half year and reaffirms existing conditions including security wise limits, coupon treatment outside caps, and a minimum residual maturity of three years.
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