Foreign Exchange Regulation Act, 1973 : Notification under section 19(1)(a), (d) read with section 9(1)(a) : Permission for issue of units of mutual fund to NRIs/OCBs with repatriation/non-repatriation basis

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..... th section 9(1)(a) : Permission for issue of units of mutual fund to NRIs/OCBs with repatriation/non-repatriation basis NOTIFICATION NO. G. S. R. 354 ( E ) DATED 30-3-1999 In pursuance of clauses ( a ) and ( d ) of sub-section (1) of section 19 read with clause ( a ) of sub-section (1) of section 9 of the Foreign Exchange Regulation Act, 1973 (46 of 1973), the Reserve Bank is ple .....

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..... d Exchange Board of India; ( b ) in respect of investment made on repatriation basis, the amount representing the investment is received by inward remittance through normal banking channels or by debit to NRE/FCNR account of the non-resident investor maintained with an authorised dealer in India; ( c ) in respect of investment made on non-repatriation basis, the amount representing the inves .....

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..... NRO/NRSR account of the non-resident investor; and ( c ) where the investment is made by debit to NRSR account of the non-resident investor the dividend/interest and maturity proceeds shall be credited to NRSR account of the non-resident investor. Explanation.--- A person (not being a citizen of Pakistan or Bangladesh or Sri Lanka) shall be deemed to be of Indian origin , if--- ( i ) h .....

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