SEBI registered FIIs to invest more in other securities
Reserve Bank of India vide its Circular RBI/2010-11/492 A.P. (DIR Series) Circular No. 55 dated April 29, 2011 has enhanced the limits of investments by Foreign Institutional Investors (FIIs) in Corporate Debt. Now FIIs can invest in listed non convertible debentures / bonds upto USD 40 billion (with a sub limit of USD 25 billion for investment in listed non-convertible debentures / bonds issued by corporate in the infrastructure sector).
Liberalized procedure for bank guarantees against Advance Remittance for Import of Goods
Reserve Bank of India vide its Circular RBI/2010-11/493 A.P. (DIR Series) Circular No. 56 dated April 29, 2011, in a ray to liberalize the procedure of obtaining a bank guarantee in case of advance remittance exceeding USD 100,000, by Authorized Dealer Category I, has now decided to enhanced the limit of Advance remittance for Import of Goods from USD 100,000 to USD 200,000 or its equivalent, with immediate effect for importers (other than a Public Sector Company or a Department or Undertaking of Central or State Governments, since in such cases the requirement of bank guarantee is to be specifically waived by the Ministry of Finance, Government of India).
Circulars issued by RBI are attached herewith for your perusal.