The Reserve Bank of India allowed all foreign individual investors to buy shares in domestically listed firms directly, implementing a budget proposal and expanding access beyond non-resident Indians (NRIs) and overseas citizens of India (OCIs). This comes at a time when foreign portfolio investors (FPIs) have been pulling money out of Indian equities, adding to pressure on the rupee. The RBI said Monday evening that overseas individuals can invest in equity instruments of listed firms on recognised stock exchanges with enhanced limits, marking a further liberalisation of India's foreign investment regime. KYC Checks This potentially widens the investor base for domestic equities. Such individuals currently bet on Indian markets mainly through pooled investment vehicles managed by foreign institutions, alternative investment funds, mainly Category III, or via limited NRI channels.