‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt - relaxations

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..... of Authorised Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified vide Notification No. FEMA.396/2019-RB dated October 17, 2019 , as amended from time to time, and relevant directions issued thereunder. Attention is also invited to A.P. (DIR Series) Circular No. 34 dated May 24, 2019 (hereinafter Directions) read .....

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..... e time of allotment of investment limit) would be reset to commence from the date that the FPI invests 75% of CPS. 3. These directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law. Yours faithfully (Dimple Bhandia) General Manager-in-Ch .....

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