Sberbank in India registered as a portfolio investor – Kommersant
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Sberbank became the first Russian bank to be approved by the Securities and Exchange Board of India (SEBI) as a foreign portfolio investor (FPI). A Russian bank card appeared in the list of registered investors on website National Stock Depository (NSDL).
Sberbank (MOEX: SBER) received an FPI license of the first category. It allows you to follow more lenient beneficial ownership disclosure rules, receive tax benefits and subscribe to foreign derivatives based on Indian shares. India issues such a license only to government and related foreign investors and organizations.
Four more non-bank representatives are registered among portfolio investors in India: Alfa Capital, Pervaya Management Company, as well as Igor Noskov and Vsevolod Rozanov. Interlocutors of the Indian edition Business Standard It is assumed that a portfolio investor license in India may be issued to several more Russian banks.
Sberbank has been banking in India since 2011, where it currently has two branches – in New Delhi and Mumbai. In July 2023, Sberbank also received permission from the country’s Reserve Bank to form an IT division. The capital of Sberbank’s Indian branches exceeds $100 million.
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