Will FPI single-window clearance remain a distant dream?

Differences between Sebi and CBDT have delayed the proposal, says report

The single-window clearance system for FPIs proposed in the budget for this year has hit a roadblock with reports suggesting that differences between Sebi and CBDT have delayed the proposal. Take a look at what the issue is all about.

What is single-window clearance?

Foreign portfolio investors (FPI) who wish to invest in Indian financial markets have to register with multiple regulatory bodies including the Securities and Exchange Board of India (Sebi), Reserve Bank of India (RBI) and Central Board of Direct Taxes (CBDT). The documentation process is tedious as it involves obtaining PAN number, Foreign Account Tax Compliance Act (Fatca) certificate