Saturday, June 16, 2012

Eyeing extra Foreign Capital in tough Times

  • QFI definition widened to include investors from six Gulf nations and 27 European commission countries.
  • Separate $1-billion sub-limit created for QFI investment in corporate bonds and MF debt schemes.
  • Restriction on number of days for keeping funds in individual accounts removed.
  • QFIs allowed to open individual non-interest bearing rupee bank accounts.
  • Operational flexibility for appointing custodians and brokers to route investments.
  • RBI, SEBI to issue relevant circulars within seven days.


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