FPIs Dump Equities, Debt Of More Than 
14,000 Crore In May
The huge sell off comes amid worries over imposition of 20 per cent minimum alternate tax on capital gains by overseas investors till April 1, 2015.
Besides, experts attributed outflows in the debt markets to sell-off in bonds globally, rise in global crude oil prices and uncertainty on rate cut by the Reserve Bank.
To assuage concerns of FPIs slapped with MAT demand, the government on May 11 put on hold issuance of fresh notices and any further assessments on levy of this tax on such entities.
This was in response to the Income Tax Department issuing notices to 68 FIIs totaling Rs 602 crore over non-payment of MAT.
Some foreign investors have gone to court while the government last week set up a high-level committee to resolve the issue.
Since January 2015, overseas investors have invested a net amount of Rs 79,634 crore in the Indian capital markets (equity and debt).
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