The Reserve Bank on Tuesday simplified foreign portfolio investment norms by put in place an easier registration process and operating framework with an aim to attract inflows.
“The portfolio investor registered in accordance with Sebi guidelines shall be called Registered Foreign Portfolio Investor (RFPI),” RBI said in a notification.
The existing portfolio investor class, namely, Foreign Institutional (FII) and Qualified Foreign Investor (QFI) registered with Sebi shall be subsumed under RFPI, it said.
The guidelines for Portfolio Investment Scheme for Foreign Institutional Investor (FII) and Qualified Foreign Investor (QFI) have since been reviewed and it has been decided to put in place a framework for investments under a new scheme called Foreign Portfolio Investment scheme, it said.