Citi launches eFPI@Citi for 5-business-day FPI India registrations in Mumbai
Citi just launched eFPI@Citi, a digital platform that helps foreign portfolio investors (FPIs) register in India way faster, now in only five business days.
The announcement happened at the Global Fintech Fest in Mumbai, and it comes as more global investors are eyeing India's capital markets.
Citi uses experience easing FPI onboarding
eFPI@Citi is all about making onboarding smoother and less stressful for FPIs.
Citi already manages a big chunk of these assets in India, so it's using its experience to boost efficiency.
Mridula Iyer, Head of Services, Asia South at Citi, said this will give foreign funds a more predictable registration journey.
Securities and Exchange Board of India, or SEBI, Chairman Tuhin Kanta Pandey also praised the move, saying it fits perfectly with SEBI's vision of using tech to remove barriers for investors and make India even more attractive for global funds.