Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2015

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..... March, 2015 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2015 G.S.R. 284(E).- In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India hereby makes the following amendments in .....

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..... rting with the words, A person resident outside India and ending with the words........ from time to time shall be renumbered as paragraph 2B. ii. After paragraph 2B, the following new sub-paragraph shall be added, namely: (2C) A Non-resident Indian may, without limit and on non-repatriation basis, subscribe to the chit funds authorised by the Registrar of Chits or an officer authorised .....

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