DEUTSCHE Bank announced the launch of AccessIndia, an interactive web-based solution for clients, which aims to introduce automated digital market entry to expedite licensing for Foreign Portfolio Investors (FPIs).

AccessIndia is a comprehensive solution designed to help foreign investors, such as asset managers and insurance companies, and other such investors who need to set up new investment vehicles in India. 

Key intermediaries such as global custodians will also benefit from AccessIndia by gaining process efficiencies in the FPI licensing process, associated with documentation, due diligence and workflow management.

Sriram Krishnan, head of Securities Services – India at Deutsche Bank, says: “We are delighted to launch AccessIndia and contribute in not only addressing the pain points of our clients, but also in making digital market entry possible.”

“As a leading custodian in India, Deutsche Bank has fittingly taken the lead in the digitalization of pre-investment compliance for FPIs around licensing and account set-ups,” he adds.

In addition to providing guidance to a prospective institutional investor with respect to completing all prescribed documentation, AccessIndia also helps in completing the applicable KYC requirements, thus paving the way for an end-to-end single-window entry to the Indian securities market.

During the pilot phase, AccessIndia was used for live FPI applications by a few foreign institutions, which included Banque Pictet, a private bank from Switzerland, as well as several other clients.

G V Nageswara Rao, managing director & chief executive officer, National Securities Depository Limited (NSDL), says: “Common Application Forms (CAF) for Permanent Account Numbers (PAN) and FPI registration would be an efficient option for FPIs to complete the registration process in a shorter duration. NSDL is currently integrating its systems with the Income Tax Department for online PAN issuance based on CAF.”

“NSDL already monitors various limits in respect of FPI & Sectoral Caps and disseminates comprehensive data on FPI investment in India. It is heartening to note that Deutsche Bank has launched the AccessIndia portal which may seamlessly integrate with the NSDL portal to make it a great experience for FPIs,” he adds.