TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>RBI Waives No Objection Certificate for Share Transfers to Non-Residents in Financial Sector under FEMA 1999.</h1> The circular issued by the Reserve Bank of India addresses the transfer of shares in the financial sector involving foreign direct investment. It informs Category-I Authorized Dealer banks that the requirement for obtaining a No Objection Certificate (NoC) for share transfers from residents to non-residents in the financial services sector has been waived under the Foreign Exchange Management Act, 1999. However, compliance with any 'fit and proper' or due diligence requirements set by financial sector regulators remains mandatory. All other instructions from previous circulars remain unchanged. The circular is issued under specific sections of the Foreign Exchange Management Act, 1999.
TaxTMI 
TaxTMI 
