TMI BlogStreamlining the onboarding process of FPIsX X X X Extracts X X X X X X X X Extracts X X X X ..... ) Regulations, 2019 (hereinafter referred to as FPI Regulations ), an application for the grant of certificate as a foreign portfolio investor shall be made to a Designated Depository Participant ( DDP ) in the Form and manner specified by the Government or the Board from time to time and shall be supported by the fee specified in Part A of the Second Schedule and any documents in the manner specified by the Board from time to time. 3. Accordingly, in order to ease the onboarding process of FPIs and reduce the time taken for granting registration and opening of demat, trading and bank accounts of FPIs, the following modifications to the Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... curities markets. b. Use of Digital Signatures by FPIs : i. FPIs may use digital signatures for the purpose of execution of CAF and other registration related documents, provided such digital signatures are in accordance with the provisions of the Information Technology Act, 2000. c. Certification of copies of original documents by authorized bank officials using SWIFT mechanism: i. At present, copies of all documents submitted by the FPI applicants are to be accompanied with originals for verification. In case the original of any document is not produced for verification, then the copies are required to be physically attested by entities authorized for attesting the documents, as mentioned in Para 8 of Part B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erational convenience, it is now specified that in case an FPI applicant belongs to an existing FPI investor group, it may submit its unique FPI investor group ID in the CAF, in lieu of providing complete details of all group constituents. In case the applicant wants to club additional FPIs (apart from itself) in such unique investor group ID, the FPI may only provide details of such additional FPIs, along with the investor group ID. 4. In addition to the aforesaid, the following provisions of the Master Circular shall stand modified as under, in order to bring consistency with the provisions of the FPI Regulations: a. The term forthwith mentioned at paragraphs 9 (iv), 12 (iii), 14 (i) of Part A and in Annexure H of the Mast ..... X X X X Extracts X X X X X X X X Extracts X X X X
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