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of <h1>RBI Amends Foreign Exchange Rules: Regulation 20A Allows Overseas Investment in JVs and WOS with Conditions</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management Regulations, 2004, concerning the transfer or issue of foreign securities. Effective from its publication date, the amendment introduces Regulation 20A, allowing resident individuals to invest in overseas Joint Ventures (JV) or Wholly Owned Subsidiaries (WOS) under specific conditions outlined in Schedule V. These include prohibitions on investing in certain business sectors and countries, compliance with financial limits, and reporting requirements. The amendment also details procedures for disinvestment and post-investment changes, emphasizing timely reporting and repatriation of proceeds.
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