"Documentation requirements for KYC have been simplified," Sebi
said in a release after the board meeting.
regulations have been redrafted based on the recommendation of a committee headed by former RBI deputy governor H R Khan.
The requirements for issuance and subscription of offshore derivative instruments (ODIs) have also been rationalised.
Offshore funds floated by mutual funds would be allowed to invest in the country after registration as FPIs.
Among others, entities established in the International Financial Services Centre (IFSC) would be deemed to have met the criteria for FPIs.
"FPIs shall be permitted for off-market transfer of securities which are unlisted, suspended or illiquid, to a domestic or foreign investor," the release said.
Besides, registration for multiple investment manager (MIM) structures has been simplified.
To attract more overseas funds into the market, central banks that are not members of the Bank for International Settlements would be eligible for registration as FPIs.