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of <h1>Foreign Portfolio Investors Get 3-Month Extension for VRR Investment Commitments Due to COVID-19 Disruptions.</h1> The circular addresses the relaxation of investment requirements for Foreign Portfolio Investors (FPIs) under the Voluntary Retention Route (VRR) due to COVID-19 disruptions. FPIs, which received investment limits between January 24, 2020, and April 30, 2020, are granted an additional three months to invest 75% of their Committed Portfolio Size (CPS). The retention period for these investments will commence from the date when 75% of the CPS is invested. These directions are issued under the Foreign Exchange Management Act, 1999, and are subject to any other necessary legal permissions or approvals.
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