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of <h1>RBI's Tenth Amendment: Non-Residents Can Now Acquire Shares in Listed Indian Companies Through FDI Scheme</h1> The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Tenth Amendment) Regulations, 2013, effective from its publication date. This amendment allows non-residents, including Non-Resident Indians, to acquire shares of listed Indian companies on recognized stock exchanges through registered brokers under the Foreign Direct Investment (FDI) Scheme. Conditions include the non-resident having acquired control per SEBI regulations and maintaining such control. Payment for shares can be made as specified in the regulations or from dividends credited to a designated non-interest bearing rupee account.
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