Target is to bring 25% of offshore volume to IFSC by December
Fitch has used the pandemic impact to comment on lower growth for India, which can be -5 per cent this year due to the lockdown and its effects
This is four times the amount of Rs 774 crore invested at the end of the previous quarter
The FPIs are in advanced talks with an Indian bank to act as a custodian.
According to provisional data provided by stock exchanges, overseas funds were net sellers to the tune of Rs 919 crore
The Budget earlier this year announced a 20% withholding tax on dividends paid to FPIs
The month of May saw two large share sales -Rs 25,000-crore in Hindustan Unilever (HUL), and Rs 8,400-crore in Bharti Airtel (Airtel
Prior to this, FPIs had net withdrawn a record Rs 1.1 trillion in March and Rs 15,403 crore in April
It's one of those rare periods where deflation is also possible. The RBI may have to adjust money supply in either direction
The discussions come weeks after the central government said it will screen all foreign direct investment (FDI) from countries with which it shares a land border
The trend comes on the back of a Rs 55,000-crore FPI sell-off during the March quarter
IndusInd Bank was added to the so-called 'red flag' list two weeks ago after FPI shareholding crossed 71 per cent
Between April 1 to 17, FPIs pulled out a net sum of Rs 3,808 crore from equities and Rs 8,842 crore from the debt segment
Last week, the indices had rallied 13 per cent and were on the cusp of a bull market - a term used for a 20% rise from recent lows
Market players suggest that the move could be specifically aimed at vetting applicants from China wanting to register as FPIs
While FPIs are also classified as non-residents, the withholding tax rates for these are provided under a separate section 196D of the Income Tax Act
According to the schedule, 19 states had lined up to borrow up to Rs 37,500 crore, but they managed to raise Rs 32,560 crore.
In October, the Indian government had issued a circular raising statutory FPI limit of Indian companies to the sectoral foreign investment limit
The outflow of funds in March comes after six consecutive months of investment by FPIs since September 2019
Dealers say the huge supply is a concern at a time when volumes have thinned because of Covid