Market regulator SEBI has proposed uniform guidelines for all classes of foreign investors, a step aimed at simplifying investment process for overseas entities and strengthen surveillance over them. At its board meeting in Mumbai yesterday, the Securities Exchange Board of India, SEBI decided to prepare draft guidelines with an aim to make uniform rules for different classes of foreign investors such as Foreign Institutional Investors, NRIs, Foreign Venture Capital Investors and Qualified Financial Investors. SEBI said in a statement after the Board meeting that draft guidelines would be based on the recommendations of the Working Group on Foreign Investment in India for consideration of the Government so that uniform guidelines are made for various categories of investors.

SEBI also relaxed its rules regarding the debt limit allocation mechanism for Foreign Institutional Investors, which have emerged as a significant force to the Indian capital market over the years.