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of <h1>SEBI Amends Regulation 4: NRIs, OCIs, and Resident Indians Can Now Be Constituents of FPIs Under Conditions.</h1> The Securities and Exchange Board of India (SEBI) issued the Foreign Portfolio Investors (Amendment) Regulations, 2021, effective upon publication in the Official Gazette. The amendment modifies Regulation 4 of the 2019 regulations, allowing non-resident Indians, overseas citizens of India, and resident Indian individuals to be constituents of an applicant, subject to SEBI's conditions. Additionally, resident Indians other than individuals can be constituents if they are eligible fund managers and the applicant is an approved eligible investment fund under the Income Tax Act, 1961. This amendment follows previous changes made in December 2019 and April 2020.
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