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.