Sebi amends FPIs rule; directs registration fee payment in Indian rupee

SEBI has amended FPI registration rules, directing that registration fees be paid in Indian rupees instead of US dollars, effective after six months. The registration fee for Category-I FPIs and FVCIs has been revised from USD 2,500 to Rs 2.3 lakh. Designated Depository Participants must remit collected fees to SEBI within five working days of grant of registration, and the common application form now requires inclusion of date of birth or date of incorporation for PAN allotment.