SEBI accepts 16 new FII applications for registration

New Delhi: In news that should come now as some relief to the markets, Foreign Institutional Investors had a video conference meeting with the market regulator SEBI.

The board has accepted 16 new FII applications for registration, and has urged FII's to keep to the cap of 40 per cent on P Notes being a part of their portfolio.

SEBI Chairman M Damodaran clarified P Notes trade cannot continue without any controls, therefore sub accounts need to be registered within 24 hours.