Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Custodian banks issuing irrevocable payment commitments for FII PIS equity purchases constrained by RBI exposure limits and prudential rules</h1> Custodian banks are authorized to issue irrevocable payment commitments (IPCs) in favor of stock exchanges or their clearing corporations on behalf of Foreign Institutional Investors (FIIs) for purchases under the Portfolio Investment Scheme; this enables settlement assurances for FII equity purchases. Such IPC issuance must conform to Reserve Bank of India (RBI) regulations on banks' capital market exposure and applicable DBOD instructions, thereby subjecting IPCs to existing exposure limits and prudential constraints. Amendments to the Foreign Exchange Management (Guarantee) Regulations will be issued to align the regulatory framework, and AD Category-I banks are required to inform their constituents of these operational changes.
TaxTMI 
TaxTMI 
