RBI doubles PROI per-company cap to 10% and overall 24%
Big news from the Reserve Bank of India: if you're a PROI under the Portfolio Investment Scheme, you can now invest up to 10% in listed equity instruments of any Indian company (double the previous limit).
Plus, the total cap for all PROIs has jumped from 10% to 24%. This opens the door wider for global money in Indian markets.
RBI drops SEBI registration for NRIs/OCIs
This move follows up on February's Union Budget proposal and aims to bring more foreign investment and hopefully boost India's economy.
The RBI also scrapped SEBI registration requirements for NRIs and OCIs investing in stocks.
Experts are impressed by how quickly these changes rolled out, but note there are still some hurdles with taxes and moving money back home.
Overall, it's a step toward making India's markets more attractive for long-term investors.