SC: Forfeiture of Earnest Money Impermissible When Both Buyer and Seller are at Fault  ||  Supreme Court: Gravity of Offence Cannot Defeat Speedy Trial; Pre-Trial Detention is Punishment  ||  SC: Terrorist Act under UAPA Includes Conspiracies to Disrupt Essential Supplies, Not Just Violence  ||  Supreme Court Directs Measures to Prevent False and Frivolous Complaints Against Judicial Officers  ||  SC: Mere Participation in Arbitration Doesn’t Bar Challenging Arbitrator; Waiver Must be in Writing  ||  SC: Under Order 1 Rule 10 CPC, the Plaintiff, as Dominus Litis, Cannot be Forced to Add a Defendant  ||  SC: Law Does Not Change With a New Bench; Decisions of a Coordinate Bench are Binding  ||  Delhi HC Absence of Formal Arrest under Section 311A Crpc Does Not Bar Giving Handwriting Samples  ||  Del HC: Security Guards Performing Duties Cannot Be Prosecuted For Wrongful Restraint or Molestation  ||  Bombay HC: Housing Society Earning From Telecom Towers Isn’t An ‘Industry’; Staff Get No Gratuity    

'Voluntary Retention Route' (VRR) for Foreign Portfolio Investors (FPIs) investment in debt - relaxations- (Reserve Bank of India) (23 Jan 2020)

MANU/APDR/0006/2020

Banking

Attention 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).

On a review, the following changes are made to the Directions governing investment through the Voluntary Retention Route (VRR). a. The investment cap is increased to Rs. 1,50,000 crores from Rs. 75,000 crores. b. FPIs that have been allotted investment limits under VRR may, at their discretion, transfer their investments made under the General Investment Limit to VRR. c. FPIs are also allowed to invest in Exchange Traded Funds that invest only in debt instruments.

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.

Tags : VRR   FPIS   RELAXATIONS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved