Consider the following statements:
1. SEBI will be the authority to grant general permission to Qualified Foreign Investors for investment under Portfolio Investment Scheme (PIS) route that is similar to FIIs.
2. The prescribed limits for FIIs and NRIs are not applicable to the QFIs.
Select the correct above statement.
Answer: D
The securities and exchange board of India is a regular body for the securities market in India. It was established in 1988 and given statutory power on 12 April, 1992 through the SEBI Act, 1992.