RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S1

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

110171606

‘Fully Accessible Route’ for Investment by Non-residents in Government Securities – Exclusion of new issuances in 14-year and 30-year tenor securities

RBI/2024-25/56
FMRD.FMID.No. 03/14.01.006/2024-25

July 29, 2024

To
All participants in Government Securities market

Madam/Sir,

‘Fully Accessible Route’ for Investment by Non-residents in Government Securities – Exclusion of new issuances in 14-year and 30-year tenor securities

A reference is invited to the Fully Accessible Route introduced by the Reserve Bank, vide A.P. (DIR Series) Circular No. 25 dated March 30, 2020, wherein certain specified categories of Central Government securities were opened fully for non-resident investors without any restrictions, apart from being available to domestic investors as well.

2. The Government Securities that are eligible for investment under the Fully Accessible Route (‘specified securities’) were notified by the Bank, vide circular no. FMRD.FMSD.No.25/14.01.006/2019-20 dated March 30, 2020, circular no. FMRD.FMID.No.04/14.01.006/2022-23 dated July 07, 2022, circular no. FMRD.FMID.No. 07/14.01.006/2022-23 dated January 23, 2023 and FMRD.FMID.No. 04/14.01.006/2023-24 dated November 08, 2023.    

3. On a review and in consultation with the Government, it has been decided to exclude all new securities of 14-year and 30-year tenors from the Fully Accessible Route. Consequently, future issuances of Government Securities in these tenors shall not be available for investment under the Fully Accessible Route. Existing stocks of Government Securities in 14-year and 30-year tenors already included as ‘specified securities’ under the Fully Accessible Route shall, however, continue to be available under the Fully Accessible Route for investments by non-residents in the secondary market.

4. Investments by Foreign Portfolio Investors in new Government Securities in 14-year and 30-year tenors issued henceforth shall be either reckoned under the investment limits prescribed in A.P. (DIR Series) Circular No. 03 dated April 26, 2024, as amended from time to time, and subject to conditions stipulated inA.P. (DIR Series) Circular No.31 dated June 15, 2018, as amended from time to time or reckoned under investment limits and subject to conditions stipulated in A.P. (DIR Series) Circular No.22 dated February 10, 2022, as amended from time to time, as the case may be.

5. The Directions contained in this circular have been issued under Section 45W of Chapter IIID of the Reserve Bank of India Act, 1934 and are without prejudice to permissions/ approvals, if any, required under any other law.

6. These Directions shall be applicable with immediate effect.

Yours faithfully,

(Dimple Bhandia)
Chief General Manager

RbiTtsCommonUtility

प्ले हो रहा है
കേൾക്കുക

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

റിസർവ് ബാങ്ക് ഓഫ് ഇന്ത്യ മൊബൈൽ ആപ്ലിക്കേഷൻ ഇൻസ്റ്റാൾ ചെയ്ത് ഏറ്റവും പുതിയ വാർത്തകളിലേക്ക് വേഗത്തിലുള്ള ആക്സസ് നേടുക!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

ഈ പേജ് സഹായകരമായിരുന്നോ?