Holding licence requirement for foreign securities clarified: general permissions apply, but prior RBI approval needed when not covered. Clarifies that no holding licence from the Reserve Bank is required for acquisition of foreign securities where general permission applies under FEMA Notification No. FEMA 19/RB-2000, including bonus shares, gifts/inheritance from non-residents, and cashless ESOP acquisitions. For transactions not covered by general or special permission, prior permission of the Reserve Bank is required, and prior RBI approval is specifically required for acquisition as qualification shares and rights shares.