Foreign Direct Investment in Financial Sector – Transfer of Shares

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..... s invited to Regulation 10(A)(v) of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA.20/2000-RB dated May 3, 2000 , as amended from time to time and Para 2(B)(iv) of A.P.(DIR Series) Circular No.43 dated November 4, 2011 , in terms which for transfer of shares from Residents to Non-Residen .....

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..... Circular shall remain unchanged. 4. AD Category I banks may bring the contents of the circular to the notice of their customers/constituents concerned. 5. Reserve Bank of India has since amended the relevant Regulations and notified vide Notification No.FEMA.290/2013-RB dated October 4, 2013, notified vide. G.S.R.No.682(E) dated October 11, 2013 . 6. The directions contained in this circu .....

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