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Mar 31, 2022

Increase in VRR Limits for FPI Investment in Debt

The Reserve Bank of India (‘RBI’) had introduced a separate channel, called the Voluntary Retention Route (‘VRR’), for investments by foreign portfolio investors (‘FPIs’) on March 1, 2019, to enable FPIs to invest in Indian debt markets. An amount upto ₹ 1,500,000 million (approx. US$ 19,590 million) was available for investment through VRR. Given the positive response to the VRR evident from the near exhaustion of the current limit, the RBI has, by way of its Circular dated February 10, 2022, increased the investment limits available under the VRR from ₹ 1,500,000 million (approx. US$ 19,590 million) to ₹ 2,500,000 million (approx. US$ 32,650 million). The renewed investment limit is applicable with effect from April 1, 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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