- 05/27/2019 at 5:35 pm #1005791EduGorillaKeymasterSelect Question Language :
Direction:Read the given passage and answer the following questions.
In order to harmonize the various available routes for foreign portfolio investment in India, the Indian securities market regulator i.e. Securities Exchange Board of India (“SEBI”) has introduced a new class of foreign investors in India known as the Foreign Portfolio Investors (“FPIs”). This class has been formed by merging the existing classes of investors through which portfolio investments were previously made in India namely, the Foreign Institutional Investors1 (“FIIs”), Qualified Foreign Investors2 (“QFIs”) and sub-accounts3 of the FIIs. Previously portfolio investment was governed under different laws i.e. the SEBI (Foreign Institutional Investors) Regulations, 1995 (“FII Regulations”) for FIIs and their subaccounts and SEBI circulars dated August 09, 2011 and January 13, 2012 governing QFIs, which are now repealed under the SEBI (Foreign Portfolio Investors) Regulations (“FPI Regulations”) that govern FPIs.
FPIs cannot invest in which of the following investments?
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