A Securities and Exchange Board of India panel is likely to suggest that the NRI and portfolio investment scheme (PIS) routes be merged with that of foreign portfolio investors (FPIs), The Economic Times reported.

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The move is aimed at having a uniform regime for all foreign portfolio investors, the report said citing three people close to the development.

The NRIs currently invest in the Indian markets directly and indirectly through PIS and can buy mutual fund units, invest in private equity funds or through the offshore FPI route.

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