| The Securities and Exchange Board of India (SEBI) has initiated talks with the Reserve Bank of India (RBI) to allow foreign portfolio investors into the commodity derivatives market.
“We are already in talks with the RBI on this matter,” SEBI Chairman U.K. Sinha said on the sidelines of an event on the completion of one year of merger of Forward Markets Commission (FMC) with SEBI. “The FPI regulations emanated from FEMA (Foreign Exchange Management Act) and any kind of foreign money coming into the country has to have RBI approval.”...........................................Full Article: Source
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