Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2009

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..... fairs) (EM Section) (RESERVE BANK OF INDIA ) (Foreign Exchange Department) NOTIFICATION Mumbai, the 28th July, 2009 No. FEMA 196/2009-RB Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2009 G.S.R. 609(E). - In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and Section 47 .....

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..... y engaged in financial services sector in India may make investment in an entity outside India: Provided that the Indian party (i) has earned net profit during the preceding three financial years from the financial services activities; (ii) is registered with the regulatory authority in India for conducting the financial services activities; (iii) has obtained approval from the concerned .....

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