Know Your Client (KYC) Requirements for Foreign Portfolio Investors (FPIs)
In press release No.36/2018 dated August 21, 2018 it was, inter-alia, stated that the working group constituted under the Chairmanship of Shri H. R. Khan, Deputy Governor (Retired), Reserve Bank of India will also look into the various issues raised in the representations made in relation to SEBI Circular No.CIR/IMD/FPIC/CIR/P/2018/64 dated April 10, 2018 on Know Your Client Requirements for Foreign Portfolio Investors (FPIs).
The working group has heard various stakeholders, has held consultations and is in the process of giving its recommendations. Ministry of Finance, Government of India has also been consulted on various issues. Based on these inputs, SEBI would review the matter and shortly take a holistic view.