Deutsche Bank today said it has been appointed as depository participant and custodian bank by CMI Ventures Ltd for its investments in India.
CMI Ventures opened a foreign portfolio investor (FPI) account with Deutsche Bank India.
In January this year, market regulator Securities and Exchange Board of India (Sebi) had notified FPI regulations to put in place an easier registration process and operating framework for overseas entities seeking to invest in Indian capital markets.
Under the new norms, Sebi-Designated Depository Participants (DDPs)' would register FPIs on behalf of the market regulator.
The FPI regulations, come into effect from June 1, brings together all foreign investor classes such as Foreign Institutional Investors (FIIs), their sub-accounts and Qualified Foreign Investors (QFIs).
"Deutsche Bank today announced its appointment as the Designated Depository Participant (DDP) and Custodian bank by CMI Ventures Limited, for their investments in India," a company release said.
"The new investor access framework under the FPI regime could be a game changer for global investors as it provides them with a more efficient way to invest in India," Anand Rengarajan Head of Deutsche Bank Investor Services India said.
"We valued their ongoing engagement globally and locally, as well as their guidance throughout our FPI registration process. We look forward to continuing to work with their global team," CMI Ventures General Counsel Martijn Bollen said.
CMI Ventures is an affiliate of Catalyst Microfinance Investors, a USD 125 million microfinance investment fund.
