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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Simplifies FII Registration: No Separate RBI Clearance Needed; Authorized Dealers to Open Bank Accounts for FIIs.</h1> The circular issued by SEBI on January 1, 2004, addresses the registration and renewal process for Foreign Institutional Investors (FIIs) and their sub-accounts. Following a decision by the Reserve Bank of India, FIIs no longer need separate clearances from RBI and SEBI. Authorized dealers are now permitted to open bank accounts for registered FIIs. To streamline the registration process, prospective FIIs and those seeking renewal must submit the prescribed fees as per SEBI regulations along with their applications. Custodians are instructed to inform their FII clients about the circular's contents.
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