Qualified Foreign Investor status permits a single non interest Rupee account to route eligible securities transactions subject to conditions. A Qualified Foreign Investor (QFI) is defined by residency and compliance criteria tied to FATF and IOSCO cooperation, KYC requirements, and exclusions for jurisdictions with strategic AML/CFT deficiencies, residents of India, and entities already registered as FIIs, Sub Accounts of FIIs or FVCIs. A QFI may open a single non interest bearing Rupee account with an Authorised Dealer without prior Reserve Bank approval solely to route receipts and payments for purchase and sale of eligible securities, subject to funding by inward remittance or sale proceeds, restricted uses for purchase or outward remittance, and operation by Qualified Depository Participants under securities regulator norms.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Qualified Foreign Investor status permits a single non interest Rupee account to route eligible securities transactions subject to conditions.
A Qualified Foreign Investor (QFI) is defined by residency and compliance criteria tied to FATF and IOSCO cooperation, KYC requirements, and exclusions for jurisdictions with strategic AML/CFT deficiencies, residents of India, and entities already registered as FIIs, Sub Accounts of FIIs or FVCIs. A QFI may open a single non interest bearing Rupee account with an Authorised Dealer without prior Reserve Bank approval solely to route receipts and payments for purchase and sale of eligible securities, subject to funding by inward remittance or sale proceeds, restricted uses for purchase or outward remittance, and operation by Qualified Depository Participants under securities regulator norms.
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