Eligibility conditions for Foreign Portfolio Investors (FPIs)

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...."DDPs")/ Custodian of Securities. 3. All Recognized Stock Exchanges 4. The Depositories (NSDL and CDSL) 5. Stock Brokers through Recognized Stock Exchanges 6. Depository Participants through Depositories 7. Mutual Funds 8. Association of Mutual Funds in India 9. Portfolio Managers 10. KYC Registrations Agencies (KRAs) 11. Alternative Investment Funds (AIFs) Sir/ Madam....

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....ficial owner (BO) as per PMLA Rules. Accordingly, there will be a separate set of norms for determining conditions where Non Resident Indians (NRIs) and Overseas Citizens of India (OCIs) and Resident Indians (RIs) are constituents. 2. The Board broadly accepted the recommendations of HR Khan group. Accordingly, it has been decided to put in place the following eligibility norms. The Amendments ....

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....ve Bank of India in global funds whose Indian exposure is less than 50%. b. NRI/ OCI/ RI should not be in control of FPI. 2.3 FPIs can be controlled by investment managers (IMs) which are controlled and / or owned by NRI/ OCI/ RI if following conditions are satisfied:- i. IM is appropriately regulated in its home jurisdiction and registers itself with SEBI as non-investing FPI; or ....

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....chever is later in order to satisfy these eligibility conditions. 2.8 In case of temporary breach, a time period of 90 days will be given to ensure compliance with above conditions. 3. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the develo....