Citi has launched eFPI, a digital solution aimed at cutting the registration timeline for foreign portfolio investors entering India to five business days. The first-to-market solution was announced at the Global Fintech Fest in Mumbai, where Citi is the Banking Innovation Partner. The service is aimed at simplifying market entry for foreign portfolio investors at a time when India is drawing higher interest from global institutions.
Citi said the FPI registration process, which earlier took anywhere from a few weeks to a few months, can now be fast-tracked to five business days through eFPI@Citi.
