Stockinvest Scheme ‑ Introduction of stockinvest in primary capital market for NRIs/OCBs

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..... st in primary capital market for NRIs/OCBs Attention of authorised dealers is invited to Circular No. DBOD.BC. 76/24.47.001.91/92, dated 1‑2‑1992 issued by our Department of Banking Operations and Development (DBOD) in terms of which STOCKINVEST has been introduced as payment instrument for application money to the issue of capital by Indian companies. 2. With a view to enabling .....

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..... d by DBOD shall be followed. 3. Authorised dealers may bring the contents of this circular to the notice of their NRI constituents. 4. The directions contained in this circular have been issued under section 73(3) of the Foreign Exchange Regulation Act, 1973 (46 of 1973) and any contravention or non‑observance thereof is subject to the penalties prescribed under the Act. - Circular .....

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