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FPI investment in municipal bonds permitted, subject to State Development Loan investment limits and existing debt market conditions. Foreign Portfolio Investors are permitted to invest in municipal bonds, and such investment shall be reckoned within the limits set for FPI investment in State Development Loans. All other existing conditions for FPI investment in the debt market remain unchanged; Authorised Dealer Category I banks must notify their customers. Amendments to the relevant Foreign Exchange Management Regulations were notified on April 18, 2019, and the directions are issued under the statutory regulatory framework.
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Provisions expressly mentioned in the judgment/order text.
FPI investment in municipal bonds permitted, subject to State Development Loan investment limits and existing debt market conditions.
Foreign Portfolio Investors are permitted to invest in municipal bonds, and such investment shall be reckoned within the limits set for FPI investment in State Development Loans. All other existing conditions for FPI investment in the debt market remain unchanged; Authorised Dealer Category I banks must notify their customers. Amendments to the relevant Foreign Exchange Management Regulations were notified on April 18, 2019, and the directions are issued under the statutory regulatory framework.
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