The salient features are as under:
A. Foreign Portfolio Investors (FPIs):
1. Existing FIIs, Sub Accounts and Qualified Foreign Investors (QFIs) shall be merged into a new investor class termed as "FPIs".
2. SEBI approved Designated Depository Participants (DDPs) shall register FPIs on behalf of SEBI subject to compliance with KYC requirements.
3. FPI shall be required to seek registration in any one of the following categories:
(a) "Category I Foreign Portfolio Investor" which shall include Government and Government related foreign investors etc;
(b) "Category II Foreign Portfolio Investor" which shall include appropriately regulated broad based funds, appropriately regulated entities, broad based funds whose investment manager is appropriately regulated, university funds, university related endowments, pension funds etc;
(c) "Category III Foreign Portfolio Investor" which shall include all others not eligible under Category I and
Trying my hand on the betwixt and between moments of the life