No tax tangle, FPIs keen to move G-Sec money next day

Foreign investors are advocating for expedited remittance processes after the Indian government introduced tax exemptions on bonds. They are calling on regulators and banks to enhance the speed of money transfers. This initiative aims to streamline remittance operations and mitigate settlement delays, as the exemption abolishes withholding taxes on interest and capital gains from these investments, improving market efficiency for foreign portfolio investors.