Repatriation of refund of funds received for purchase of shares

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..... iation of refund of funds received for purchase of shares Under the current exchange control regulations authorised dealers require prior permission of the Reserve Bank to allow repatriation of funds received for purchase of shares. 2. It has now been decided to delegate the authority to authorised dealers to allow repatriation of surplus funds/refund of remittance received for purchase of s .....

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..... s refund of funds received for purchase of shares, by way of inward remittance from outside India or by debit to NRE/ FCNR account maintained with an authorised dealer in India; iii. that no part of remittance represents interest on the funds received. 4. Authorised dealers may bring the contents of this circular to the notice of their constituents concerned. 5. The directions contained in .....

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