CMI Ventures appoints Deutsche Bank 03 June 2014Mumbai Reporter: Stephen Durham
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Deutsche Bank has been appointed as designated depository participant (DDP) and custodian bank by CMI Ventures under the new foreign portfolio investors (FPI) regime in India.
CMI Ventures is one of the first investors in India to have registered under the new FPI regulations and the company is expected to fund greenfield microfinance institutions in the country.
Anand Rengarajan, head of investor services in India at Deutsche Bank, 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.”
“We are pleased to be chosen by CMI Ventures as the DDP and custodian bank. As one of the largest custodian banks in India and given our ongoing involvement in the banking industry’s developments, we are uniquely positioned to help foreign investment companies with their securities services needs in the Indian market.”
Martijn Bollen, general counsel at CMI Ventures, added: "We are delighted to expand our relationship with Deutsche Bank. 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."
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