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<h1>SEBI Amends Foreign Institutional Investors Regulations: New Eligible Applicants, Fee Exemptions, and Investment Term Changes.</h1> The Securities and Exchange Board of India (SEBI) issued the SEBI (Foreign Institutional Investors) Amendment Regulations, 1996, effective upon publication in the Official Gazette. The amendments include the addition of university funds, endowments, foundations, or charitable trusts as eligible applicants under Regulation 6, with specific criteria for consideration. Regulation 7 introduces fee exemptions for certain international institutions, such as the World Bank, and mandates fee refunds for exempted entities. Changes to Regulation 15 include modifying investment terms and extending specified periods from five to ten years. A new annexure requires additional details from applicants in the newly added category.