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TMI Blog‘Fully Accessible Route’ for Investment by Non-residents in Government SecuritiesX X X X Extracts X X X X X X X X Extracts X X X X ..... r Category-I (AD Category-I) banks is invited to the following regulations / directions, as amended from time to time, and the relevant directions issued thereunder: (i) Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified vide Notification No. FEMA. 396/2019-RB dated October 17, 2019 (hereinafter, Debt Regulations); (ii) The A.P. (DIR Series) Circular ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ex ). 3. These directions shall come into effect from April 1, 2020. 4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law. Yours faithfully, (Dimple Bhandia) General Manag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Exchange Management Act, 1999 (42 of 1999) (FEMA). b) Specified securities shall mean Government Securities as periodically notified by the Reserve Bank for investment under the FAR route. In this regard, a reference is invited to FAR Directions, issued today by the Reserve Bank. 3. The words and expressions used but not defined in these directions shall have the same mean ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder the FAR. c. Process for Investment and reporting: i. FPIs, Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs) and other entities permitted to invest in Government Securities under the Debt Regulations can invest under this route as hitherto under existing arrangements. ii. Eligible investors other than those referred to in 4(c)(i) above, may invest through Inte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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