https://www.taxtmi.com/notifications?id=25362 The Regulations add a definition of Irrevocable Payment Commitment (IPC) as an irrevocable confirmation by a custodian bank to a stock exchange/clearing corporation to meet payment obligations on buy transactions, and authorise custodian banks to issue IPCs for registered FII clients for purchases under the Portfolio Investment Scheme. IPCs issued prior to receipt of customer funds are to be reckoned in the custodian bank's Capital Market Exposure and must comply with regulatory exposure limits and Reserve Bank/DBOD directions. en-us Fri, 30 Mar 2012 00:00:00 +0530 Thu, 17 Jan 2013 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=25362 The Regulations add a definition of Irrevocable Payment Commitment (IPC) as an irrevocable confirmation by a custodian bank to a stock exchange/clearing corporation to meet payment obligations on buy transactions, and authorise custodian banks to issue IPCs for registered FII clients for purchases under the Portfolio Investment Scheme. IPCs issued prior to receipt of customer funds are to be reckoned in the custodian bank's Capital Market Exposure and must comply with regulatory exposure limits and Reserve Bank/DBOD directions. Notifications FEMA Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/notifications?id=25362