Clarifications continue to FPI Norms

Earlier discussed here, Foreign Portfolio Investors (“FPI”) Norms have seen concentrated regulatory developments with the rollout of April 2018 Circulars, the HR Khan Working Committee’s interim report as well as the September 2018 Circular which provided some clarity towards Eligibility, Beneficial Ownership and Clubbing of Investment Limits. In September, vide Circular No. CIR/IMD/FPIC/CIR/P/2018/132 dated September…

The Bond Market Part I: Understanding Bonds

“When you buy a bond, you are lending to the issuer, which may be a government, municipality or corporation. In return, the issuer promises to pay you a specified rate of interest during the life of the bond and to repay the principal, also known as face value or par value of the bond, when…