FOREIGN EXCHANGE MANAGEMENT [WITHDRAWAL OF GENERAL PERMISSION TO OVERSEAS CORPORATE BODIES (OCBS)] REGULATIONS, 2003Foreign Exchange Management [Withdrawal of General Permission To Overseas Corporate Bodies (OCBS)] Regulations, 2003
FOREIGN EXCHANGE MANAGEMENT [WITHDRAWAL OF GENERAL PERMISSION TO OVERSEAS CORPORATE BODIES (OCBS)] REGULATIONS, 2003Foreign Exchange Management [Withdrawal of General Permission To Overseas Corporate Bodies (OCBS)] Regulations, 2003
Permission to hedge: overseas corporate bodies may enter rupee denominated forward contracts with authorised dealers to hedge specified exposures. An OCB may enter into a rupee denominated forward contract with an Authorised Dealer in India to hedge: dividends on existing equity investments in Indian ... Summary
Permission to hedge: overseas corporate bodies may enter rupee denominated forward contracts with authorised dealers to hedge specified exposures.
An OCB may enter into a rupee denominated forward contract with an Authorised Dealer in India to hedge: dividends on existing equity investments in Indian companies; balances in existing FCNR or NRE rupee term deposit accounts; and amounts of existing investments made under the Portfolio Investment Scheme or under the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, subject to the terms and conditions specified in the proviso to paragraph 1 of Schedule II to the Foreign Exchange Derivative Contracts Regulations.
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