The decision was taken as the market participants have informed Sebi that they were still in process of putting in place necessary systems and procedures to discharge their assigned role effectively and had sought an extension of time for implementation of the FPI regime.
With effect from June 01, 2014, the Designated Depository Participants (DDPs), shall accept all applications for registration, acknowledgment of fees, and miscellaneous requests.
Those Qualified Depository Participants (QDPs) who are deemed as DDPs under Regulation 11(1) of the Regulations may continue to open QFI accounts till May 31, 2014.
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