Sebi has done its bit; over to the govt
FPIs, however, invested a net Rs 2,096.38 crore in the debt securities during the period
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What has hit the sentiment the most is the higher tax surcharge on overseas investors, who have pulled out nearly Rs 15,000 crore from domestic equities since the Budget
The government is also looking for ways to ease concerns of foreign portfolio investors.
In an interview with Sundar Sethuraman, Bhat says that the government should take steps to address the risk aversion among banks and financial institutions
This was their highest outflow since October 2018, when they had pulled out Rs 28,921 crore ($3.93 billion) from the equity market
We need to see a concerted attempt to make India an easier place to do business
DII holding touches a record Rs 20.42 trillion, an increase of 0.9 per cent over the previous quarter.
Of the net inflows received in FY20 so far, 54 per cent are in the equity segment, 34 per cent in debt and the rest hybrid
The Centre ruled out a rollback of the "super-rich" tax on FPIs, organised as trusts or association of persons, last week
The overseas investors could also step in to fill the financing void left by the non-bank lenders
The government expects to get just Rs 2,724 crore from the surcharge levied
FPIs had been net investors in the equity segment in the previous five months
The government on Thursday ruled out a rollback of the "super-rich" tax on FPIs organised as trusts or association of persons
They have been on an unbroken selling streak since the Union Budget, spooked by increase in income-tax surcharge, taxes on buybacks, and lack of stimulus to prop up the economy
Sovereign borrowing abroad could make the currency more volatile in the future
FPIs have been net buyers for the past five consecutive months
According to reports, about 2,000 FPIs operate as trusts
Mody said the increase in surcharge was to provide benefit to the taxpayers who are in the lower end of the income tax slab