New Delhi, July 8 -- Markets regulator Sebi has replaced the existing US dollar-denominated registration fee for Foreign Portfolio Investors (FPIs) with a rupee-based fee structure.
To implement the change, the Securities and Exchange Board of India (Sebi) has amended the rules governing FPIs. The revised provisions will come into effect after six months, Sebi said in its notification dated July 3.
As per the notification, the regulator has revised the registration fee for Category-I FPIs from USD 2,500 to Rs 2.3 lakh. Similarly, registration fee for FPIs belonging to Category II has been revised from USD 250 to Rs 23,000 The regulator has also revised the application fee for seeking general relaxations or exemptions from strict enforcement of regulations from USD 1,000 to Rs 90,000 in eligible foreign exchange equivalent.
The markets watchdog has also updated the common application form used for FPI registration. MPOST
Published by HT Digital Content Services with permission from Millennium Post.