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Oct 30, 2024

‘Fully Accessible Route’ for Investment by Non-Resident in Government Securities

Previously, non-residents could invest in specified Central Government securities, as notified from time to time, without any restrictions, under the ‘Fully Accessible Route’ (‘FAR’).

After a review of the securities accessible through FAR and in consultation with the Central Government, it has been decided that all new securities which have tenors of 14 years and 30 years will be excluded from FAR. However, the existing 14 year and 30-year tenor Central Government securities which are already listed as ‘specified securities’ under FAR will remain available for investment by non-residents in the secondary market.

New 14 year and 30-year tenor Central Government securities will henceforth be accounted for under the investment limits specified in the RBI Circular dated April 26, 2024, and will be subject to the terms and conditions enumerated in RBI Circular dated June 15, 2018. Alternatively, they may also be accounted for under the investment limits specified in the RBI Circular dated February 10, 2022.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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