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of <h1>RBI Sets Guidelines for NRI and PIO Investments in Indian Firms; Approval Required for Repatriation Benefits.</h1> The Reserve Bank of India issued guidelines regarding foreign investments in Indian proprietorship concerns and partnership firms. Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs) can invest on a non-repatriation basis, provided the funds are from inward remittances or specific accounts, and the business is not in agriculture, plantation, or real estate. Investments with repatriation benefits require prior approval from the Secretariat for Industrial Assistance or RBI. Non-residents other than NRIs/PIOs need RBI approval for investments. Authorised Dealers are instructed to inform their clients about these regulations under the Foreign Exchange Management Act, 1999.
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