Good news from Russia..! Money will rain in India..!!?

As Russia's super-rich, family firms and treasuries look for safer ways to invest their surplus funds, some of Russia's biggest banks are planning to step in as foreign portfolio investors (FPIs) to trade in indian stock markets. Russia's second largest bank VTB has reportedly approached the Securities and Exchange Board of india (SEBI) for an FPI licence. Since march this year, three Russian non-bank asset managers have registered themselves as FPIs with the SEBI system. VTB bank is a state-owned bank owned by the Russian government. In this case, the approval of the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india is required to register VTB Russian bank as an FPI. Applications for new FPI registration and renewal of existing licenses will be approved by the SEBI system. While applying for FPI registration, when it is a foreign bank having a branch office in india, RBI approval is required. There are other Russian banks like Sberbank and Gazprombank in India. VTB, Russia's second-largest bank, will invest huge sums in the indian market if it gets the FPI license. There are opportunities to increase investments in many sectors, especially the stock market and bonds. This is likely to reduce the impact of US and european investment outflows. The standard incident in India.Dealing with russia in violation of Western countries' ban..!! india is already willing to help russia to improve and protect its financial resources in a way that will benefit both countries to a large extent. This can be called a WIN-WIN moment as india will also benefit from this.
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Sowmiya Sriram

02/10/2023 06:41 PM