MNC banks ask FPI managers not to sell NRI clients’ investments
Besides, an NRI controlled investment manager (or the asset management company) running an FPI must register itself as a ‘non-investing FPI’ with Sebi. Synopsis FPIs have to bring down the aggregate contribution of NRIs and OCIs (along with resident Indians) in a fund to below 50% by December 31, 2020. Also, contribution by an NRI/OCI … Read more