Master Direction on Non-Resident Investments in Debt Instruments

The RBI issued a comprehensive Master Direction consolidating 63 earlier circulars relating to non-resident and FPI investment in debt instruments. This framework streamlines foreign investment by providing detailed processes for various investment channels including General Route, Voluntary Retention Route (VRR), and Fully Accessible Route (FAR) for different categories of debt instruments like Central Government securities, State Government securities, and Corporate Debt Securities.