FPI registration in India to take five business days as Citi launches digital onboarding platform
The platform will initially cover regulated funds from three countries, with four more markets planned for the second phase
Foreign portfolio investors (FPIs) in India can now register in just five business days, thanks to Citi's introduction of an eFPI @ Citi digital onboarding platform. This initiative aims to streamline the registration process for overseas investors seeking entry into India's capital markets. The platform works to simplify documentation and cut down the time it takes to onboard international investors.
SEBI, India's securities regulator, has been pushing for faster and more efficient FPI registration. Citi is launching the platform in phases, starting with regulated funds from the US, Ireland, and Luxembourg. Subsequent phases will include Singapore, Canada, Australia, and the UK. The bank's India securities services business already has a significant portion of FPI assets under custody, making this move particularly impactful.
The eFPI @ Citi platform will encompass a large segment of foreign investors looking to tap into India's financial markets.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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