Sebi amends FPIs rule; directs regn fee payment in INR

PTI

New Delhi

The Securities and Exchange Board of India (Sebi) has replaced the existing US dollar-denominated registration fee for Foreign Portfolio Investors (FPIs) with a rupee-based fee structure. To implement the change, the markets regulator has amended the rules governing FPIs, with revised provisions coming into effect after six months, Sebi said in a notification dated July 3.

As per the notification, the regulator has revised the registration fee for Category-I FPIs from $2,500 to ₹2.3 lakh. Similarly, the registration fee for Category-II FPIs has been revised from $250 to ₹23,000. The regulator has also revised the application fee for seeking general relaxations or exemptions from strict enforcement of regulations from $1,000 to ₹90,000 in eligible foreign exchange equivalent.

The markets watchdog has also updated the common application form used for FPI registration. It has mandated including the applicant's date of birth or date of incorporation in the common application form to facilitate PAN allotment. Additionally, Designated Depository Participants (DDPs) must remit the collected registration fees to Sebi within five working days of granting registration.