FII investments in Debt Securities

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..... to our Circular No. IMD/FII/18/2004 dated December 2, 2004, whereby, it was informed that a cumulative sub-ceiling of USD 0.5 billion outstanding has been fixed for FII investments in corporate debt. This cap would be over and above the sub-ceiling of USD 1.75 billion for Government debt under the overall ECB ceiling. Pursuant to the clarification from Ministry of Finance, Government of India, th .....

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..... arification from the Ministry of Finance, investments in Government debt only shall be reckoned within the sub ceiling of USD 1.55 billion. The FII investments in corporate debt shall now be, therefore, reckoned within the sub ceiling of USD 0.5 billion. To conform to the sub ceiling of USD 0.5 billion, there shall be no further investment or rollover of existing position in corporate debt by both .....

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..... cated to them earlier. A copy of this circular is available at the web page "F.I.I." on our website www.sebi.gov.in. The custodians are requested to bring the contents of this circular to the notice of their FII clients. Yours faithfully, D. Chanda Chief General Manager CC: The Chief General Manager, Exchange Control Department, Reserve Bank of India, Central Office, Central Office .....

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