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FPIs to get trade proceeds on settlement day; to save ₹2K cr yearly
The New Indian Express
|October 17, 2024
IN a major move towards ease of doing business and treating overseas investors on par with their domestic peers, capital market regulator Securities and Exchange Board of India (Sebi) has mandated clearing corporations to ensure that foreign portfolio investors (FPIs) get the proceeds from equity or debt sale on settlement day itself.
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The capital market regulator estimates that efficiency gains from this revised process is nearly ₹2,000 crore per annum. In a statement on Wednesday, the Sebi said the move is aimed at enhancing the operational efficiency and respond to the concerns raised by foreign portfolio investors. Ensuring the availability of sale proceeds for foreign portfolio investors on the settlement day itself will bring them on par
This story is from the October 17, 2024 edition of The New Indian Express.
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