9911796707
TMI BlogInvestments by FIIs/QFIs in Credit Enhanced BondsX X X X Extracts X X X X X X X X Extracts X X X X ..... t of India decided to permit Foreign Institutional Investors (FIIs) to invest in "Credit Enhanced INR Bonds" up to an equivalent of US$ 5 billion within the overall Corporate Bond limit of US$ 51 billion. The Reserve Bank of India vide circular RBI/13-14/368 dated November 11, 2013 had permitted FIIs and QFIs to invest in the credit enhanced bonds, as per paragraph 3 and 4 of the RBI A.P. (DIR Ser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ced Bonds, to public, on a daily basis. 4. When the aggregate investments of all the FIIs/QFIs reaches 90% of the investment limit, notice informing the same shall be published by the depositories on their websites and no fresh purchases shall be allowed without prior approval of the depositories. The same shall be informed by the depositories to the Custodians/QDPs and recognized stock exchanges ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ository shall give approval to request for purchase on a first-come- first-served basis in co-ordination with the other depository, based on time of receipt of the prior approval requests by the depositories. The validity of the approval shall be for the next two trading days. 7. In case the aggregate holding of the FII/QFI exceeds overall investment limit, the depositories shall jointly notify t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssary authorization from the FII/QFI at the time of account opening for such divestment of excess holdings. 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 development of, and to regulate the securities market. Yours faithfully, S MADHUSUDH ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
