2025 amendment updates Foreign Portfolio Investors Regulations with new SWAGAT-FI category, revised capital thresholds and ten-year fees

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Notification introduces the 2025 Second Amendment to the 2019 Foreign Portfolio Investors Regulations, effective generally 180 days after publication, with specified clauses effective immediately. It defines "SWAGAT-FI" as a special category covering certain government-related investors and public retail funds, with exemption from specified sponsor/manager requirements and a distinct advance registration fee regime payable in ten-year blocks. Amendments permit mutual funds registered in India to be constituents of FPI applicants, modify capital commitment thresholds for Alternative Investment Funds and Retail Schemes, and align terminology with the International Financial Services Centres Authority (Fund Management) Regulations, 2025, while revising fee collection provisions in the Second Schedule.....