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SWAGAT-FI to offer single licence, longer validity for trusted FPIs, says SEBI Chairman

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SEBI Chairman Tuhin Kanta Pandey said the regulator has introduced the Single Window Automatic and Generalised Access for Trusted Foreign Investors (SWAGAT-FI) framework to simplify market entry.

“SWAGAT-FI is a category of FIs where we have more trusted sovereign funds or publicly traded funds, insurance funds and FPIs,” Pandey said.

“They will be able to come to the SWAGAT-FI framework where we will have a much longer period of registration, and practically they would be able to do a lot of things with one licence.”

The move follows SEBI’s formal rollout of the SWAGAT-FI framework last month to ease registration and compliance for foreign portfolio investors.

On deepening the corporate bond market, Pandey said structural enablers are being put in place.

Also Read: SEBI Chairman dismisses FPI exit fears, says outflows cyclical; registration, netting reforms coming soon 

“There are various enablers required for development of capital bond market. We have taken a number of steps,” he said.

“Anybody coming into the Over-the-Counter (OTC) market… to discover the price, everyone has to come beyond a threshold to an electronic bidding platform.”

He added that SEBI has operationalised an Electronic Bidding Platform (EBP) for price discovery, a Request for Quote (RFQ) platform for two-way secondary market quotes, and online bond trading through Online Bond Platform Providers (OBPPs), “where retail can actually buy corporate bonds.”

Read More: SEBI mulls sharp cut in minimum investment for social impact funds to widen retail participation

Details on corporate bond market measures were shared via an ANI post on X.



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