India: RBI proposes new FPI norms to attract long-term investments in debt

The Reserve Bank of India (RBI) on Friday proposed new norms for foreign portfolio investors (FPIs) to attract long-term and stable FPI investments into debt markets while allowing them operational flexibility.

The central bank, in consultation with the government and the Securities and Exchange Board of India (Sebi), has proposed a special route called voluntary retention route (VRR) to encourage FPIs willing to make long-term investments in debt.

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