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
CBDT has issued revised requirements of DIN referencing in Income Tax notices etc. and exceptions Section 292B of Income Tax…
When property purchased and sold within same year both sale and purchase price has to be adopted by applying same…
ICAI defers the mandatory effective date of SQM 1 and SQM 2 The Council of ICAI, at its 451st Meeting…
Addition deleted as it was made on the basis of letter of District Magistrate which not recovered during the search…
Banks not required to deduct TDS under Income Tax Act 2025 on interest income below threshold limit - CBDT clarification …
Allegations of delay in TDS deposit, role of person responsible are disputed factual matters which must be tested at trial…