FinMin, Sebi look to ease curbs on NRI investment through FPI route

The finance ministry and markets regulator Securities and Exchange Board of India (Sebi) are assessing whether the curbs on investment by non-resident Indians (NRIs) through the foreign portfolio investment (FPI) route can be removed, said two people in know. Currently, NRIs who aren’t tax residents in India can invest in India-focused offshore funds via the FPI route. The maximum cap on NRI investment through this route in any company varies from 24 per cent to 49 per cent of total paid-up capital, depending on the sector. The move, if gets effective, will open up the local market.....

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