NEW DELHI
India’s market regulator, SEBI, wants foreign investors to pay their registration fees in Indian Rupees instead of US dollars. This smart move aims to simplify the system, cut down on paperwork, and stop money losses from currency exchange rates. Last year, SEBI collected nearly thirteen million dollars from foreign funds, but tracking those dollars manually caused big delays. Under the new plan, overseas investors will convert their cash to Rupees before paying. SEBI also plans to ask for dates of birth or incorporation on applications to better verify who is investing in India’s growing markets.