Financial Daily from THE HINDU group of publications
Thursday, Apr 06, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 06, 2006 |
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Money & Banking
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Govt Bonds Markets - Regulatory Bodies & Rulings Our Bureau
Mumbai , April 5 The SEBI has clarified that of the revised $2-billion limit for FII investments in Government securities, $1.75 billion would be allocated to 100 per cent debt FIIs and the remaining to general FIIs and their sub-accounts. For the $1.5-billion FII investment in corporate debt, 100 per cent debt FIIs have been allotted $1.35 billion. The others can invest up to $0.15 billion in these, the SEBI said. FIIs and their sub-accounts are free to invest till the total investment limit reaches $225 million and $135 million in Government securities and corporate debt respectively. Thereafter, approval for limit allocation will be granted, the circular said. It has also been clarified that FII investments would be restricted to only listed debt securities of companies and FIIs' subscription to commercial papers would be within the ceiling of $1.5 billion ($500 million earlier) fixed for debt instruments (other than Government Securities and T-Bills).
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