9911796707
TMI BlogPurchase and sale of debt instruments by a person resident outside IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... l papers issued by an Indian company; (d) units of domestic mutual funds or Exchange-Traded Funds (ETFs) which invest less than or equal to 50 percent in equity; (e) Security Receipts (SRs) issued by Asset Reconstruction Companies; (f) debt instruments issued by banks, eligible for inclusion in regulatory capital; (g) Credit enhanced bonds; (h) Listed non-convertible/ redeemable preference shares or debentures issued in terms of Regulation 6 of these Regulations; (i) Securitised debt instruments, including (i) any certificate or instrument issued by a special purpose vehicle (SPV) set up for securitisation of asset/s with banks, Financial Institutions or NBFCs as originators; (j) Rupee denominated bonds/ units issued by Infrastructure Debt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PFRDA Act. The annuity/ accumulated saving will be repatriable: Provided that NRI/ OCIs may offer such instruments as permitted by the Reserve Bank from time to time as collateral to the recognized Stock Exchanges in India for their transactions in exchange traded derivative contracts as specified in sub-regulation 2 of regulation 5 . C. Permission to Non-resident Indians (NRIs) or Overseas Citizens of India (OCIs) Non-Repatriation basis (1) An NRI or an OCI may, without limit, purchase on non-repatriation basis, dated Government securities (other than bearer securities), treasury bills, units of domestic mutual funds or Exchange-Traded Funds (ETFs) which invest less than or equal to 50 percent in equity, or National Plan/ Savings Certifica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vernment of India, as per terms and conditions specified by the Reserve Bank. ] 2. Mode of Payment (1) The amount of consideration for purchase of instruments by FPIs shall be paid out of inward remittance from abroad through banking channels or out of funds held in a foreign currency account and/ or Special Non-Resident Rupee (SNRR) account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016 . The foreign currency account and SNRR account shall be used only and exclusively for transactions under this Schedule. (2) The amount of consideration for purchase of instruments by NRIs or OCIs on repatriation basis shall be paid out of inward remittances from abroad through banking channels or out of funds held ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce with the regulations issued by the Reserve Bank and/or the International Financial Services Centre Authority. ] (5) The amount of consideration for purchase of instruments by other non-resident investors shall be paid out of inward remittances from abroad through banking channels. 3. Permission for Sale of instruments A person resident outside India who has purchased instruments in accordance with this Schedule may sell/ redeem the instruments subject to such terms and conditions as may be specified by the Reserve Bank and the Securities Exchange Board of India. 4. Remittance/ credit of sale/ maturity proceeds (1) The sale/ maturity proceeds (net of taxes) of instruments held by Foreign Portfolio Investors (FPIs) may be remitted outside ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
