{"id":2266,"date":"2026-09-21T15:00:00","date_gmt":"2026-09-21T09:30:00","guid":{"rendered":"https:\/\/blog.remitcircle.com\/?p=2266"},"modified":"2026-09-16T11:57:59","modified_gmt":"2026-09-16T06:27:59","slug":"p0010-foreign-portfolio-investment-fpi-in-india-in-debt-securities","status":"publish","type":"post","link":"https:\/\/blog.remitcircle.com\/purpose-codes\/p0010-foreign-portfolio-investment-fpi-in-india-in-debt-securities\/","title":{"rendered":"P0010 : Foreign Portfolio Investment (FPI) in India in debt securities"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2266\" class=\"elementor elementor-2266\">\n\t\t\t\t<div class=\"elementor-element elementor-element-717b57c3 e-flex e-con-boxed e-con e-parent\" data-id=\"717b57c3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-67c2377b elementor-widget elementor-widget-text-editor\" data-id=\"67c2377b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><b>What is Purpose Code P0010?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">P0010 is used when a SEBI-registered Foreign Portfolio Investor (FPI) remits money into India to purchase listed Indian debt securities \u2014 corporate bonds, non-convertible debentures (NCDs), government securities (G-Secs), state development loans (SDLs), or treasury bills (T-Bills). It is the debt counterpart to P0009 (which covers FPI in Indian equity).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">FPI investment in Indian debt is a significant channel through which foreign capital enters Indian fixed-income markets. The RBI and SEBI jointly regulate the aggregate limits for FPI debt investment. When an FPI custodian receives the inward remittance to deploy into Indian debt, P0010 is the applicable purpose code.<\/span><\/p>\n<p><a href=\"\/category\/purpose-codes\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"page\" data-id=\"351\">See all RBI purpose codes<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:heading {\"className\":\"u005cu005cu005cu0022wp-block-headingu005cu005cu005cu0022\"} --><\/p>\n<blockquote>\n<h2><b>When to Use P0010<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Use P0010 when a SEBI-registered FPI remits funds into India specifically to purchase listed Indian debt instruments. Common scenarios:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">A foreign pension fund remitting capital to its Indian custodian to buy Indian government securities (G-Secs) under the FPI route<\/span><\/li>\n<li><span style=\"font-weight: 400;\">A foreign hedge fund purchasing listed Indian corporate bonds or NCDs through the SEBI-registered FPI framework<\/span><\/li>\n<li><span style=\"font-weight: 400;\">An FPI investing in Indian treasury bills or state development loans through the permitted debt investment route<\/span><\/li>\n<li><span style=\"font-weight: 400;\">A sovereign wealth fund allocating to Indian fixed income markets within SEBI&#8217;s FPI debt investment limits<\/span><\/li>\n<li><span style=\"font-weight: 400;\">A foreign fund buying listed Indian municipal bonds or infrastructure bonds under the FPI debt window<\/span><\/li>\n<\/ul>\n<p><strong>Quick check: <b>\u00a0<\/b><span style=\"font-weight: 400;\">Is the investor a SEBI-registered FPI buying listed Indian debt (bonds, G-Secs, T-Bills)? Use P0010. Is it FPI buying listed Indian equity? That&#8217;s P0009. Is it a foreign loan (not securities)? That&#8217;s P0013.<\/span><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<\/blockquote>\n<p><!-- \/wp:quote -->\n\n<!-- wp:heading --><\/p>\n<h2><strong><strong><strong>Wrong Code? Use These Instead<\/strong><\/strong><\/strong><\/h2>\n<p>P0001 is specifically for equity. Here&#8217;s where people commonly mix things up:<\/p>\n<p><!-- \/wp:heading -->\n\n<!-- wp:table --><\/p>\n<figure>\n<table>\n<tbody>\n<tr>\n<td>\n<p><b>If your money is from\u2026<\/b><\/p>\n<\/td>\n<td>\n<p><b>Correct code to use<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">FPI investment in listed Indian equity (shares)<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0009<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">FDI in Indian debt securities (unlisted \/ direct investment route)<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0007<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">External Commercial Borrowing \u2014 direct foreign loan to Indian company<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0013<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">Non-resident deposits (FCNR, NRE)<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0014<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">Foreign bank lending to Indian AD bank<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0015<\/b><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><br\/>\n<\/figure>\n<h2><strong><strong>Documents to Keep Ready<\/strong><\/strong><\/h2>\n<p>Your bank will ask for some or all of these when processing a P0001 remittance:\u00a0<\/p>\n<p><!-- \/wp:heading -->\n\n<!-- wp:table --><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<p><b>Document<\/b><\/p>\n<\/td>\n<td>\n<p><b>Why you need it<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>SEBI FPI registration certificate<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">Confirms the investor is a valid registered FPI \u2014 mandatory for this route<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>Custodian appointment and agreement<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">FPIs operate through SEBI-registered custodians in India who manage the inflow<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>SWIFT \/ fund transfer confirmation<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">Confirms the inward remittance from the FPI&#8217;s overseas account to the custodian<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>Debt investment instructions<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">FPI&#8217;s instructions to custodian specifying the securities to be purchased<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>e-FIRA<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">Official proof of inward remittance tagged P0010 \u2014 maintained by the custodian<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>KYC and beneficial ownership documents<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">SEBI and PMLA require comprehensive FPI KYC including ultimate beneficial owner details<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><!-- \/wp:table -->\n\n<!-- wp:paragraph --><\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:heading {\"className\":\"u005cu005cu005cu0022wp-block-headingu005cu005cu005cu0022\"} --><\/p>\n<h2><strong><br \/>What is an e-FIRA \u2014 and Why Does It Matter?<\/strong><\/h2>\n<p><!-- \/wp:heading -->\n\n<!-- wp:paragraph --><\/p>\n<p>An e-FIRA (Electronic Foreign Inward Remittance Advice) is the official proof that foreign money entered India. It confirms the nature and purpose of the inflow, which matters for tax treatment, FEMA compliance, and audit trails.<\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:paragraph --><\/p>\n<p>Your bank generates it automatically once the funds land. You can usually download it from your internet banking portal or request it at your Forex desk. The e-FIRA will reflect the correct purpose code, which your CA or accounts team will reference during filings.<\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:quote --><\/p>\n<blockquote>\n<p><!-- wp:paragraph --><\/p>\n<p>\u00a0<strong>Did you know? <\/strong>Some banks take days to issue an e-FIRA. With Remit Circle, you can download yours instantly at no charge the moment your payment is credited. \u2192 Get your free e-FIRA via Remit Circle<\/p>\n<p>&nbsp;<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<\/blockquote>\n<p><!-- \/wp:quote -->\n\n<!-- wp:paragraph --><\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:heading --><\/p>\n<h2><strong>Receive Inward Remittances Compliantly with Remit Circle<\/strong><\/h2>\n<p><!-- \/wp:heading -->\n\n<!-- wp:paragraph --><\/p>\n<p>Getting the purpose code right on an inward remittance isn&#8217;t just a formality, a mismatch can cause payment holds, RBI queries, or incorrect tax treatment. Remit Circle is built to handle this for you.<\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:paragraph --><\/p>\n<p><strong>Instant e-FIRA \u2014 <\/strong>Download your Foreign Inward Remittance Advice the moment funds are credited. No waiting on the bank, no Forex desk visits. Free.<\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:paragraph --><\/p>\n<p><strong>Correct purpose code, every time \u2014 <\/strong>Remit Circle flags the right code for your transaction type before the payment is processed, so there are no mismatch holds at the bank.<\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:paragraph --><\/p>\n<p><strong>Multi-currency support \u2014 <\/strong>Receive in USD, EUR, GBP, AUD and more. Funds settle directly into your Indian bank account at competitive rates.<\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:paragraph --><\/p>\n<p><strong>Compliance-ready records \u2014 <\/strong>Every transaction comes with a clean audit trail purpose code, amount, date, counterparty so you and your CA are always on the same page.<\/p>\n<p>&nbsp;<\/p>\n<p><!-- \/wp:paragraph -->\n\n<!-- wp:pullquote --><\/p>\n<figure>\n<blockquote>\n<p><strong>Start receiving international payments with Remit Circle<\/strong><\/p>\n<p><cite>Open a free account in minutes. No minimum balance, no hidden fees. Get your e-FIRA instantly on every inward remittance.<br \/><strong>\u00a0<a href=\"https:\/\/remitcircle.com\/authentication\/login\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"link\" data-id=\"https:\/\/remitcircle.com\/authentication\/login\">Open your free Remit Circle account \u2192<\/a><\/strong><\/cite><\/p>\n<\/blockquote>\n<\/figure>\n<p><!-- \/wp:pullquote --><\/p>\n<p data-interaction-id=\"4b9f9bb\">\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-42be71d e-con e-atomic-element e-flexbox-base e-default-div e-c02130c \" data-id=\"42be71d\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"42be71d\">\n    <div class=\"elementor-element elementor-element-3e06425 e-con e-atomic-element e-flexbox-base e-default-div e-3e06425-7be8bed \" data-id=\"3e06425\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"3e06425\">\n    <div class=\"elementor-element elementor-element-6b08668 e-con e-atomic-element e-flexbox-base e-default-div e-6b08668-62b5b81 \" data-id=\"6b08668\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"6b08668\">\n    <div class=\"elementor-element elementor-element-329a8ed e-con e-atomic-element e-flexbox-base e-default-div e-329a8ed-0935a04 \" data-id=\"329a8ed\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"329a8ed\">\n    \t\t\t<h2 data-interaction-id=\"097eddc\" class=\"e-097eddc-dc1cd3b e-heading-base e-default-h2\"><strong>Frequently Asked Questions<\/strong><br><\/h2>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f123da elementor-widget elementor-widget-n-accordion\" data-id=\"3f123da\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:200,&quot;sizes&quot;:[]},&quot;default_state&quot;:&quot;expanded&quot;,&quot;max_items_expended&quot;:&quot;one&quot;}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6610\" class=\"e-n-accordion-item\" open>\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"true\" aria-controls=\"e-n-accordion-item-6610\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: What is RBI purpose code P0010? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6610\" class=\"elementor-element elementor-element-d6b2e0e e-con-full e-flex e-con e-child\" data-id=\"d6b2e0e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"2f41892\">P0010 is used when a SEBI-registered Foreign Portfolio Investor remits money into India to purchase listed Indian debt securities - including government bonds, corporate bonds, NCDs, T-Bills, and state development loans. It is the standard code for FPI inflows into India's fixed income markets.<br><\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6611\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"2\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6611\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: What is the difference between P0010 and P0007? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6611\" class=\"elementor-element elementor-element-c2fff16 e-con-full e-flex e-con e-child\" data-id=\"c2fff16\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"247f896\">P0007 covers foreign investment in Indian debt securities through the FDI route - typically unlisted debentures or structured debt placements. P0010 is specifically for SEBI-registered FPIs purchasing listed Indian debt through the regulated FPI framework. If the investor is a registered FPI buying listed debt via a custodian, P0010 is the precise code.<br><\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6612\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"3\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6612\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Are there limits on FPI investment in Indian debt under P0010? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6612\" class=\"elementor-element elementor-element-92bb501 e-con-full e-flex e-con e-child\" data-id=\"92bb501\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"d5741d6\">Yes. The RBI sets macro-level limits on aggregate FPI investment in Indian government securities and corporate bonds, expressed as a percentage of outstanding stock. These limits are revised periodically. Individual FPIs are also subject to concentration limits per issuer. SEBI and RBI circulars publish current limits - your custodian will manage compliance against these caps.<br><\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6613\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"4\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6613\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Who handles the P0010 purpose code tagging - the FPI or the custodian bank? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6613\" class=\"elementor-element elementor-element-4e8afef e-flex e-con-boxed e-con e-child\" data-id=\"4e8afef\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"489c69b\">The custodian bank handles all regulatory and banking compliance for FPI inflows, including purpose code tagging. The FPI remits funds to the custodian's designated account, and the custodian processes the inward remittance with the correct purpose code, manages the KYC, and handles RBI\/SEBI reporting. The FPI does not interact directly with the purpose code classification.<br><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6614\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"5\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6614\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: When an FPI sells its Indian debt holdings, what happens to the outward remittance? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6614\" class=\"elementor-element elementor-element-7a77918 e-flex e-con-boxed e-con e-child\" data-id=\"7a77918\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"89241e8\">When an FPI repatriates proceeds from selling Indian debt securities, the outward remittance is classified under S0010 (Repatriation of Foreign Portfolio Investment in India - debt securities). The P0010 (inward) and S0010 (outward) codes together track the full lifecycle of FPI debt investment in India.<br><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6615\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"6\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6615\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Can FPIs invest in Indian municipal bonds or infrastructure bonds under P0010? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6615\" class=\"elementor-element elementor-element-5d88d23 e-flex e-con-boxed e-con e-child\" data-id=\"5d88d23\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"1b07949\">Yes, to the extent such bonds are listed and fall within the categories of debt securities permitted for FPI investment under SEBI regulations. The RBI and SEBI periodically expand or modify the categories of debt instruments available to FPIs. Your custodian will confirm eligibility of specific instruments before purchase.<br><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"A SEBI-registered Foreign Portfolio Investor is purchasing listed Indian debt instruments -corporate bonds, government securities, or treasury bills\nIndian custodian banks and entities receiving FPI inflows for listed Indian debt; Indian corporates and government issuers whose debt is purchased by FPIs\nInward remittance (money coming into India)","protected":false},"author":260895650,"featured_media":2158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_page_reading_time":"","csco_page_toc_navigation":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1384],"tags":[],"class_list":["post-2266","post","type-post","status-publish","format-standard","has-post-thumbnail","category-purpose-codes","cs-entry","cs-video-wrap"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/phhXOC-Ay","jetpack-related-posts":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/blog.remitcircle.com\/wp-content\/uploads\/2026\/09\/Purpose_Code_32-Foreign_portfol-P0010.png?fit=1200%2C800&ssl=1","_links":{"self":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/2266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/users\/260895650"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/comments?post=2266"}],"version-history":[{"count":7,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/2266\/revisions"}],"predecessor-version":[{"id":2346,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/2266\/revisions\/2346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/media\/2158"}],"wp:attachment":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/media?parent=2266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/categories?post=2266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/tags?post=2266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}