Parents of FPIs to be considered as ‘legal entity’

Parents of FPIs to be considered as ‘legal entity’

Mumbai: Foreign umbrella funds or parent organisations, incorporated in jurisdictions like Luxembourg and Singapore, will have to declare themselves as the “legal entities” of foreign portfolio investors (FPIs) trading on Indian stock exchanges. FPIs registered with the Securities & Exchange Board of India (Sebi) are often arms of offshore mother institutions. In such cases, the … Read more

Some MNC banks suggest earlier start to forex trades for T+1 switch

Some MNC banks suggest earlier start to forex trades for T+1 switch

Mumbai: Some of the leading multinational banks have proposed to the Indian capital market regulator that the foreign exchange traders can begin the day early by an hour or so to enable a smooth settlement of stock trades by foreign portfolio investors (FPIs). A week ago they suggested a cut off time of 8/8:30 AM … Read more