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Sebi and RBI aim to cut FPI onboarding to five days

Sebi chairman Tuhin Kanta Pandey said FPI onboarding times could fall to five days from timelines that can run past a month, with Citi among early users of a five-day eFPI process.

Reported · Written up by our desk · Trade & Tariffs

India’s securities regulator and central bank are working together to streamline registration for foreign portfolio investors, aiming to reduce onboarding delays in the country’s capital markets, Securities and Exchange Board of India chairman Tuhin Kanta Pandey said Wednesday, according to LiveMint.

Pandey said the regulators are collaborating to “iron out” issues in FPI onboarding and target a turnaround of five days, down from timelines that can stretch past a month. He pointed to the launch of Citi’s eFPI service and noted that Citi became the first designated depository participant to complete the five day process after 11 September.

The Sebi chair also said the coordination is extending to the bond market, including efforts to establish a new framework for exchange traded bond indices. He described the broader inter regulatory work between the RBI and Sebi as increasing coordination and resolving multiple issues.

Pandey made the comments at the 3rd annual conference of the Association of Portfolio Managers in India (APMI).

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