Eligibility for depository receipts: transfer or issue of eligible securities to foreign depositories subject to pricing, limits and reporting.

Issue or transfer of eligible securities to a foreign depository for issuance of depository receipts is allowed for eligible persons or via a domestic custodian, subject to aggregate foreign holding limits, compliance with the Depository Receipts Scheme and Central Government guidelines. Pricing must not be below the corresponding domestic issue/transfer price, and the domestic custodian must report issuance to the Reserve Bank in prescribed formats. Depository receipts issued under the earlier scheme are deemed to fall under the current Scheme and must comply accordingly.

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