Why Sebi, RBI, and the government must quickly resolve uncertainties over FPI regulations
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Finance minister Nirmala Sitharaman with Sebi chairman Ajay Tyagi during the silver jubilee celebrations of the National Stock Exchange in Mumbai
Synopsis
After a long-drawn battle between Sebi and FPIs, the finance minister in her Union Budget speech had said that the government would be working with regulators to merge the FPI and NRI routes. But nearly six months later, foreign investors continue to be worried, as uncertainties still loom over FPI regulations.
Nearly six months after measures to boost overseas fund flows into India by offering a more conducive regulatory environment for foreign investors were proposed in the Union Budget 2019-20, a top executive at one of the Big Four consultancies recently visited London to meet his clients. The mood was sombre, especially among the non-resident Indians (NRIs). “I was asked why the government was yet to deliver on the proposed merger of the NRI
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