Market regulator Securities and Exchange Board of India has said one FPI can hold a maximum of 10 per cent of a company's equity shares, while existing overseas investor classes such as foreign institutional investors, sub-accounts and qualified foreign investors need to convert to the new FPI regime eventually.
The rupee had depreciated by 13 paise to end at 67.20.
Under Sebi guidelines, AIFs can operate broadly in three categories.
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
The rupee fell back sharply against the pound sterling at 83.28 from Monday's close of 82.49 and also reacted downwards against the euro to 71.59 from 71.29.
Lower bank rates the main draw; $6 bn to be raised in next few months.
There was fresh selling of the American currency by banks and exporters
Dealers said the country's trade balance numbers were inline with expectations as India's exports rose an annual 0.8 per cent in January and imports for the month rose 6 per cent, leaving a trade deficit of $20 billion.
Besides, a higher opening in the domestic equity market supported the rupee but yen's weakness against the dollar overseas capped the rupee's gains, dealers said.
Weak dollar in the overseas market also boosted the rupee value against the dollar, a forex dealer said.
The swap windows were closed on November 30.
Foreign fund inflows and a higher opening in the domestic equity market supported the domestic unit
The hectic buying by domestic institutions, as also by some top-shot brokers in their proprietary accounts, was in sharp contrast to heavy selling of stocks by foreign portfolio investors
The rupee had advanced 7 paise to end at 65.51 on Thursday.
Forex dealers said slight weakness in dollar overseas capped the rupee's losses to some extent.
Rough estimates show that at a rate of Rs 1 crore per hospital bed, the investment in India alone would be around Rs 2,000 crore
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
The rupee rose by seven paise to 62.10 against the dollar.
Forex dealers said a firm rise in local equities and sluggish dollar overseas also boosted the sentiment in rupee's favour.
Meridian Tech Pte has its development centre in Hyderabad.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
The broader NSE Nifty climbed 61.60 points, or 0.58 per cent, to close at 10,772.05.
A weak dollar overseas ahead of a US Fed policy meeting also aided the rupee recovery while late weakness in domestic equities restricted the rupee's rise, forex dealers said.
The rupee had gained 5 paise to end at 55.62 against the dollar on selling of the American currency by exporters in Wednesday's session.
Forex dealers said a weak dollar overseas and firm local equities also supported the local currency.
Forex dealers said some capital inflows and a weak dollar overseas helped the local currency make an attempt to arrest its fall.
In its mid-term review of the 2006-07 monetary policy, the central bank had raised the ceiling on overseas borrowings by banks to 50 per cent of their unimpaired tier-I capital (equity, reserves plus perpetual debt) from 25 per cent.
The rupee strengthened by 36 paise to 54.48 against the US dollar in early trade today at the Interbank Foreign Exchange on selling of American currency by exporters and banks.
According to the latest data released by the Securities and Exchange Board of India, the total assets under custody of foreign institutional investors in Indian equities declined by about Rs 44,000 crore (Rs 440 billion) to Rs 12.93 lakh crore as on July 31, 2013.
The rupee had tumbled by 30 paise to close at two-and-a-half-month low of 55.51 against the dollar in the previous session on Friday on sustained demand for the dollar from importers and banks.
Globally, gold fell by 0.94 per cent to $1,094.20.
Dealers said firm local equities amid sustained capital inflows limited the rupee's fall.
The rupee had recovered by 10 paise to close at 55.06 against the dollar on Monday on dollar selling by exporters amid weakness in the American currency in international markets.
Sustained dollar sales by exporters and banks and a higher opening in the equity market also boosted the rupee sentiment, forex dealers said.
It may be a 'no-go' for banking licences to large industrial houses.
The rupee on Monday appreciated by 9 paise to 53.75 against the US dollar in early trade at the Interbank Foreign Exchange on selling of the American currency by exporters and banks.
Whatever you do, continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time. Then try to buy yourself some breathing space, says Harsh Roongta.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
On Monday, the rupee had lost 14 paise to close at 66.62 against the US dollar.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
