Current Context: Sberbank of Russia has become the first Russian bank to register with the Securities and Exchange Board of India (SEBI) as a Foreign Portfolio Investor (FPI).
- This state-owned bank, which already has a presence in India, registered with the Indian markets regulator for a Category I FPI license.
- Category I FPI registration is only granted to government or government related foreign investors or regulated entities such as banks, sovereign wealth funds, investment trusts, pension funds, asset management companies.
- Sberbank’s registration takes the total number of Russia-based FPIs in India to five, with all others being non-banks.
- Till now, Alfa Capital Management, First Asset Management, Igor Noskov, and Vesvolod Rozanov have been granted FPI registrations.
- Sberbank received approval from the Reserve Bank of India (RBI) in May 2010 to set up a branch in India and commenced its banking business from January 2011.
Question:
Q.1 What type of FPI licence did Sberbank register for with SEBI?
a. Category I
b. Category II
c. Category III
d. Category IV
