Overseas Direct Investment in Bhutan

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..... se (i) of clause (2) of Regulation 6 of Notification No.FEMA.120/RB-2004 dated 7th July 2004 (Transfer or Issue of any Foreign Security), as amended from time to time, in terms of which overseas direct investment in Bhutan and Nepal is permitted in Indian Rupees only. 2. It has now been decided by the Reserve Bank, in consultation with Government of India, to allow direct investments in Bhuta .....

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..... o. 337(E) dated May 27, 2005 incorporating the amendment is annexed. 4. Authorised Dealer Banks may bring the contents of this circular to the notice of their constituents/customers concerned. 5. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act 1999 (42 of 1999) and are without prejudice to permissions/approvals, .....

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