SEBI permits Foreign Portfolio Investors (FPI) to invest in Municipal Bonds under SEBI (Foreign Portfolio Investors) Regulations, 2014.
CIRCULAR
IMD/FPIC/CIR/P/2019/62
May 08, 2019
To
1. All Foreign Portfolio Investors(through their Custodian of Securities)
2. All Custodians
3. The Depositories (NSDL and CDSL)
4. The Stock Exchanges (BSE,NSEand MSEI)
Dear Sir / Madam,
1. RBI vide A.P. (DIR Series) Circular No. 33 dated April 25, 2019 has permitted FPIs to invest in municipal bonds.
2. It is decided that in accordance with the provisions of Regulation 21(1)(p) of SEBI (Foreign Portfolio Investors) Regulations, 2014, FPIs are, henceforth, permitted to invest in municipal bonds.
3. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.
4. A copy of this circular is available at the web page “Circulars” on our website www.sebi.gov.in. Custodians are requested to bring the contents of this circular to the notice of their FPI clients.
Yours faithfully,
ACHAL SINGH
General Manager
Tel No.: 022-26449619
Email: achals@sebi.gov.in
ITAT allows depreciation on highway project awarded on DBOT basis In a recent judgment, ITAT Delhi allows depreciation on highway…
Once assessee satisfies conditions mentioned in section 270AA, the Assessing Officer would be bound to grant immunity In a recent…
NTPC invited applications from CA/CMA as young professionals to join NTPC Projects/Stations as Executive Trainee, Finance. NTPC Limited has invited…
Allahabad High Court disposes GST appeals observing that the functioning of GST Appellate Tribunal are put to motion Allahabad High…
Date of dispatch of notice as per ITBA portal and date of communication by email may not necessarily be the…
In a recent judgment, Bombay High Court held that assignment of leasehold rights for consideration would not amount to supply…