In an effort to monitor foreign institutional investors inflows, the Securities and Exchange Board of India has asked FIIs to report their outstanding offshore derivatives exposure as on August 15, 2003.

Subsequently, such information should be provided to the capital market regulator every fortnight in a revised format, Sebi said in a communication to FIIs and custodians.

The information must be submitted within three working days from the closure of the fortnight, Sebi said, adding that these instructions supercedes the previous reporting format prescribed in October 31, 2001.

Sebi had then asked FIIs, who have been issuing offshore derivative/financial instruments against underlying Indian securities to report on issuance
enewal and redemption of these instruments.