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MNC banks ask FPI managers not to sell NRI clients’ investments

FPIs have to bring down the aggregate contribution of NRIs and OCIs (along with resident Indians) in a fund to below 50% by December 31, 2020. Also, contribution by an NRI/OCI cannot exceed 25%. Funds which fail to do this will have to wind up in six months.

from Economic Times https://ift.tt/2L3r0ja
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