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<h1>SEBI Updates Guidelines for Designated Depository Participants Managing Foreign Portfolio Investments in India Under 2014 Regulations.</h1> The circular outlines operational guidelines for Designated Depository Participants (DDPs) under the SEBI (Foreign Portfolio Investors) Regulations, 2014. It mandates that Foreign Portfolio Investors (FPIs) engage a DDP for investment in Indian securities. DDPs are responsible for scrutinizing FPI registration applications, ensuring compliance with regulatory requirements, and managing investment limits. The guidelines also cover procedures for conditional registration, surrender of registration, clubbing of investment limits, and handling changes in material information or DDP/custodian. Additionally, it addresses taxation obligations, grandfathering provisions for Qualified Depository Participants, and eligibility criteria for insurance and reinsurance companies.