Deputy General Manager
Foreign Institutional Investors & Custodian Division
Investment Management Department
Cir No. IMD/FII&C/30/2008
All Foreign Institutional Investors, and
Custodians of Securities
1. Please refer to circular no.IMD/27/2008 dated January 31, 2008, wherein the methodology for the allocation of debt limit had been specified. Amongst other things it was stated therein that the limit should be utilised within 15days from the date of the allocation.
2. In continuation of the circular, it has now been decided to grant a period of upto five business days for replacement of the disposed off/ matured debt instrument/ position.
3. The respective custodians shall monitor and provide information of the unutilised limit on an event basis upon expiry of the five day period.
4. Any unutilised limit shall stand withdrawn and the same shall be allocated to the next waitlisted entity.
5. It is further clarified that switch by way of sell off and replacement between government securities and corporate debt would not be allowed due to individual limits applicable for these investments.
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 respective clients.