FPI-FDI transition to give overseas funds more elbow room, say experts

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FPI-FDI transition to give overseas funds more elbow room, say experts - Business Standard

Quick Summary:

Had the framework been operationalised before, many such FPIs would have opted to reclassify as FDI,” said a bank-based custodian.

The custodian added that many such FPIs divested or exited their holdings to comply with the norms on granular disclosure.

While the norms for reclassification were already present in the Foreign Exchange Management Act (Fema), in absence of operational guidelines, industry players have maintained status quo.