RBI has revised the Voluntary Retention Route (VRR) framework for foreign portfolio investments in debt. Under the new directions, VRR investment limits are subsumed within the overall limits applicable to FPI investments under the General Route. Consequently, all existing VRR investments in Central and State Government securities and corporate bonds will be counted against the respective General Route limits. Further, FPIs that opted for retention periods longer than the prescribed minimum will have flexibility to partially or fully liquidate their holdings and exit VRR after completing the minimum retention period.