By IANS
Mumbai : Indian markets regulator Securities and Exchange Board of India (SEBI) chairman M. Damodaran Thursday said overseas pension funds will now be allowed to register themselves as foreign institutional investors (FIIs).
SEBI also said that FIIs have to unwind their positions on indirect investment instruments such as participatory notes within 18 months starting Friday.
Damodaran however clarified that participatory notes can continue investing in Indian markets till they are registered as foreign institutional investors.
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