MANU/APDR/0050/2013
Ministry : Reserve Bank of India
Department / Board : RBI A.P. DIR (Series)
Circular No. : A.P. (DIR Series) Circular No. 94
Date : 01.04.2013
Notification/ Circulars Referred : Notification No. FEMA.20/2000-RB dated May 3, 2000 MANU/RFEM/0012/2000;A.P.(DIR Series) Circular No. 80 dated January 24, 2013 MANU/APDR/0027/2013; Notification No. FEMA.272/2013-RB dated March 26, 2013 MANU/RFEM/0010/2013
Citing Reference:
Notification No. FEMA.20/2000-RB dated May 3, 2000 MANU/RFEM/0012/2000 Modified
A.P.(DIR Series) Circular No. 80 dated January 24, 2013 MANU/APDR/0027/2013 Referred
Notification No. FEMA.272/2013-RB dated March 26, 2013 MANU/RFEM/0010/2013 Modified
To
All Category-I Authorised Dealer Banks
Madam/Sir,
Foreign investment in India by SEBI registered FIIs in Government Securities and Corporate Debt
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA.20/2000-RB dated May 3, 2000, as amended from time to time, in terms of which SEBI registered Foreign Institutional Investors (FIIs) and long term investors may purchase, on repatriation basis Government securities and non-convertible debentures (NCDs)/bonds issued by an Indian company subject to such terms and conditions as mentioned therein and limits as prescribed for the same by RBI and SEBI from time to time.
2. Attention of AD Category-I banks is also invited to A.P.(DIR Series) Circular No. 80 dated January 24, 2013 in terms of which the present limit for investments by FIIs and long term investors in Government securities is USD 25 billion and for corporate debt is USD 51 billion (including sub-limit of USD 25 billion each for bonds of infrastructure sector and non-infrastructure sector and USD 1 billion for QFIs in non-infrastructure sector).
3. On a review, to simplify the existing limits, it has now bee........