FII & Custodian Division
Investment Management Department
Fax No. 91 22 22870095
November 02, 2004
All Foreign Institutional Investors, and
Custodians of Securities
Dear Sir / Madam,
Sub: FII Investment in Debt Securities
Vide our Circular No. IMD/CUST/ 14 /2004 dated March 19, 2004, we had informed the continuation of cap of US $1 billion for investment by 100% debt FIIs in debt securities and investment under the 70:30 route in dated Government securities and treasury bills for the year 2003-04. The Government of India has since raised the cumulative debt investment limit for the FIIs/Sub-Accounts from US $1 billion to US $1.75 billion.
In view of the above, the following shall be applicable with immediate effect:
A copy of this circular is available at the web page "F.I.I." on our website www.sebi.gov.in . The custodians are requested to bring the contents of this circular to the notice of their FII clients.
Chief General Manager