Citi cuts foreign investor registration time in India to five days with eFPI
Citigroup introduced a digital solution at Mumbai's Global Fintech Fest to reduce Foreign Portfolio Investor registration from weeks or months to just five business days. Sebi Chairman Tuhin Kanta Pandey supported the move as global interest in India grows.
Citigroup launched eFPI, a digital platform designed to shorten the registration period for foreign portfolio investors entering Indian markets to five business days. Previously, the process required anywhere from several weeks to months. The announcement occurred at the Global Fintech Fest in Mumbai, where Citigroup served as the Banking Innovation Partner. Services leadership noted the bank oversees approximately one-third of Foreign Portfolio Investor assets under custody in the region. Tuhin Kanta Pandey, Chairman of Sebi, stated the initiative aligns with regulatory goals to leverage technology and expedite capital market access. Global institutions are increasingly viewing India as a strategic allocation target.
