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<h1>Non-applicability of overseas investment rules: exclusions for IFSC financial institutions and investments from resident foreign currency accounts.</h1> The Overseas Investment Rules do not apply to investments by a financial institution in an IFSC; to acquisition or transfer of investments outside India made out of a Resident Foreign Currency Account; to investments made out of foreign currency resources held abroad by a person employed in India for a specified assignment or duration not exceeding three years; or to investments made in accordance with the relevant provision of the Act. 'Financial institution' has the meaning given in the International Financial Services Centres Authority Act, 2019.