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of <h1>RBI Clarifies Rules for Overseas Investments; Dealers Must Report Transactions Monthly Under FEMA 2000 Amendments.</h1> The Reserve Bank of India issued a circular to authorized dealers in foreign exchange, clarifying liberalization measures for overseas direct investment. Dealers must establish a reporting mechanism to maintain a database of transactions, including details such as remittance amounts, share purchases, and sales. Monthly statements based on this data must be submitted to the RBI. Amendments to the Foreign Exchange Management Regulations, 2000, are forthcoming. The circular also clarifies that investments in certain foreign entities and through borrowed funds are not permitted. Additionally, a separate circular will address permissions for opening overseas bank and securities accounts.
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