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Investment by Foreign Portfolio Investors (FPI) in Government Securities

FEMA - 19 - Dated:- 6-10-2015 - RBI/2015-16/198 A.P. (DIR Series) Circular No 19 October 6, 2015 To, All Authorised Persons Madam/ Sir, Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange M .....

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A.P.(DIR Series) Circular No.111 dated June 12, 2013. Subsequently, the allocation of limits between long term investors1 and other FPIs was modified and the requirement of investment by FPIs in securities with minimum residual maturity of three year .....

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nt for the year 2015-16 issued on September 29, 2015, in terms of which a Medium Term Framework (MTF) for FPI limits in Government securities was announced to provide a more predictable regime. The features of the MTF are as under: The limits for FPI .....

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terms, this is expected to open up room for additional investment of ₹ 1,200 billion in the limit for Central Government securities by March 2018 over and above the existing limit of ₹ 1,535 billion for all Government securities. Additio .....

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0 billion by March 2018. The effective increase in limits for the following two quarters will be announced every half year in March and September. The existing requirement of investments being made in G-sec (including SDLs) with a minimum residual ma .....

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r this limit may continue but not get replenished through fresh purchases by FPIs till these fall below 20%. 3. Accordingly, for the current financial year, it has been decided to enhance the limit for investment by FPIs in Government Securities in t .....

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Existing Limits 1244 291 1535 Nil 1535 Revised limits with effect from October 12, 2015 1299 366 1665 35 1700 Revised limits with effect from January 1, 2016 1354 441 1795 70 1865 4. For the present, the security-wise limit for FPI investments will .....

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permitted till they are removed from the negative list. There will be no security-wise limit for SDLs for now. 5. All other existing conditions, including investment of coupons being permitted outside the limits and investments being restricted to se .....

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