Foreign Portfolio Investors (FPIs) are eligible to be categorized as non-retail users and have been allowed to buy and sell CDS (Credit default Swaps) protection under the Credit Derivatives Directions by RBI. The aggregate limit of the notional amount of CDS sold by FPIs shall be _____.

strong >Read the following passage and answer the next 3 question    The subprime mortgage crisis, popularly known as the “mortgage mess” or “mortgage meltdown,” came to the public’s attention when a steep rise in home foreclosures in 2006 spiralled seemingly out of control in 2007, triggering a national financial crisis that went global within the year. Consumer spending went down, the housing market plummeted, foreclosure numbers continued to rise and the stock market was shaken. The subprime crisis and resulting foreclosure fallout caused dissension among consumers, lenders and legislators and spawned furious debate over the causes and possible fixes of the “mess.” The financial crisis of 2008, began in 2007 with a crisis in the subprime mortgage market in the US. The main reason was a high default rate in the United States subprime home mortgage sector. The expansion of this sector was encouraged by the Community Reinvestment Act (CRA) a US federal law designed to help low- and moderate-income Americans get mortgage loans. Many of these subprime loans were then bundled and sold. Many of these loans were also bundled together and formed into new financial instruments called MBS, which could be sold as (ostensibly) low-risk securities.