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NRI - Equity stocks

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Can NRI holding US passport & OCI permit of India purchase Equity stocks in India?

NRI with US Passport and OCI Permit Seeks Guidance on Buying Indian Stocks Under FEMA Regulations. An individual inquired about the ability of a Non-Resident Indian (NRI) with a US passport and an Overseas Citizen of India (OCI) permit to purchase equity stocks in India. The response advised consulting the regulations under the Foreign Exchange Management Act (FEMA) or seeking expert advice for clarification. (AI Summary)
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